Mcnally Bharat Engineering allots equity shares
Mcnally Bharat Engineering allots equity shares The committee of directors (CoD) of McNally Bharat Engineering Company, at its meeting held on Sep. 24, 2007 allotted 1,50,000 equity shares of Rs 10 each at a premium of Rs 133, to Williamson Magor & Co. on conversion of 1,50,000 convertible warrants. > The above equity shares shall be subject to `lock-in` for a period of one year, from the date of allotment and shall rank pari passu in all respects with the existing equity shares of the company. McNally Bharat Engineering Company (MBEL) was incorporated in the year 1961. It was started as a joint venture (JV) between Bird & Co, India and McNally Pittsburgh, US. McNally Bharat is engaged in providing turnkey solutions in the areas of power, steel, alumina, material handling, mineral beneficiation, coal washing, ash handling and disposal, port cranes, civic and industrial water supply etc.
Shares of the company were last trading up Rs 2.75 , or 1.31%, to Rs 213. The total volume of shares traded were 29,861 at the BSE.(11.16 am ,Monday ).
