PVR to raise Rs.260.32 crores through preferential issue

The Board of Directors of PVR Ltd in the meeting held on November 29, 2012 have approved subject to the approval from the shareholders of the company, issue of 1,06,25,205 fully paid up equity shares of the company at a price of Rs.245 per share inclusive of premium aggregating to Rs.260.32 crores or at a price computed as per SEBI (ICDR) Regulations, 2009, whichever is higher on preferential issue basis.

The allottees include Mr. Ajay Bijli (6,93,878 shares), Mr. Sanjeev Kumar (3,26,531 shares), L Capital Eco Limited (33,59,898 shares), Multiples (Private) Equity Fund I Limited (46,49,326 shares) and Multiples (Private) Equity Fund (15,95,572 shares).

The Board also approved convening of company's Extra-Ordinary General Meeting on Saturday (December 29, 2012) for the purpose of seeking approval of the shareholders of the company for the issue of 1,06,25,205 fully paid equity shares on preferential issue basis.

The PVR Ltd. stock closed the day at Rs.255.45, up by Rs.18.55 or 7.83%. The stock hit an intraday high of Rs.275 and low of Rs.222.

The total traded quantity was 7.27 lakhs compared to 2 week average of 0.49 lakhs.

Source : Equity Bulls

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