Trent allots 2741228 shares at Rs.912

The QIP Issue Committee of the Board of Directors of Trent Ltd, at its meeting held on March 16, 2012, has accorded its consent for the allotment of 27,41,228 Equity Shares of Rs. 10/- each at a price of Rs. 912/- per equity share (including Rs. 902/- towards share premium) to Qualified Institutional Buyers, in accordance with the provisions of Chapter VIII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended.

The Qualified Institutions placement Issue was carried out in accordance with the resolution passed by the shareholders of the Company passed through postal ballot on November 14, 2011.

The Trent Ltd stock was trading at Rs.950.05, up by Rs.20.65 or 2.22%. The stock hit an intraday high of Rs.969 and low of Rs.925.05.

The total traded quantity was 7036 compared to 2 week average of 9903.

Source : Equity Bulls

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