Religare Enterprises to consider preferential issue to IFC on Sep 29, 2012

A meeting of the Board of Directors of Religare Enterprises Ltd will be held on September 29, 2012, to consider and if though fit approve the proposal for issue of Compulsory Convertible Debentures on the preferential allotment basis to IFC, a member of the World Bank Group, for a rupee amount equivalent of approx US$75 million.

The Religare Enterprises Ltd stock was trading at Rs.329.80, up by Rs.11.25 or 3.53%. The stock hit an intraday high of Rs.334.40 and low of Rs.324.

The total traded quantity was 5905 compared to 2 week average of 1140.

Source : Equity Bulls

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