Granules India Board approves issue of shares to ISP Investco LLC at Rs.105.50

Granules India Ltd has announced that the Board of Directors of the Company at its meeting held on April 03, 2007, had considered and approved issue of 22,11,200 equity shares of Rs 10/- each fully paid-up at Rs 105.50 per share (including premium) to ISP Investco LLC., on preferential basis, subject to the approval of the shareholders of the Company.

Shares of the company were trading up by Rs.4.40 or 4.16% at Rs.110.25. The volume was 295775 shares at a weighted average price of Rs.109.86 compared to 2 week average quantity of 61638 shares. The stock hit an intraday low of Rs.106 and high of Rs.113.50.

Source : Equity Bulls

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