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The allotment committee of the Directors of Excel Industries Ltd on Monday allotted 10 lakh fully paid equity shares of Rs 5 each at a premium of ₹64 a share to Utkarsh Global Holdings Pvt Ltd (a promoter group company) on conversion of 10 lakh warrants (out of 20 lakh convertible warrants). The equity shares allotted to Utkarsh Global Holdings will be locked in for three years from the date of trading approval granted. Shares of Excel Industries closed at ₹342.5, down 1.6 per cent on the NSE.
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