Malabar India Fund has raised its stake in Uniply Industries to 8.49% from the earlier 4.99%.

It has bought 8.35 lakh equity shares (representing 3.49% of total paid up equity) of the company, via an open market transaction on April 25.

Uniply Industries has given approval to the allotment of fresh fully paid up 45,14,798 equity shares at Rs.410.85 per share on preferential basis to non-promoters.

Post this allotment, the issued, subscribed and paid up share capital will been increased from Rs.23.9 crore (2,39,07,199 equity shares of Rs.10 each) to Rs.28.42 crore (2,84,21,997 equity shares of Rs.10 each). Further, the board of directors has also given approval to the allotment of 96,28,824 convertible share warrants at Rs.410.85 per warrant, on preferential basis to promoter and non-promoters.

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