SGJHL gains after alloting 5.8 mn shares to promoters

Shree Ganesh Jewellery (SGJHL) , engaged in manufacturing and exports of gold and diamond jewellery has gained by nearly 5% after the company announced that the board has allotted 58,00,000 equity shares at Rs 150 per share (which includes a premium of Rs 140 per share) to the promoters/promoter group.

The issue price is nearly at a 50% premium to yesterday's closing price of Rs 94.70 on the BSE.

Consequent to the issue and allotment of the equity shares, the paid up equity share capital of the company shall stand increased to Rs 706.26 million comprising of 70.63 million shares of Rs 10 each.

In the intraday deal, the stock opened at Rs 99.80 and made a high of Rs 102.95. Around 50,000 shares were traded in BSE.