Alstom T & D India Ltd allots Shares on Proportionate basis

In respect of the offering of 16,942,500 equity shares of face value of Rs 2 each of Alstom T & D India Ltd ("Equity Shares") by way of an Institutional Placement Programme to Qualified Institutional Buyers in terms of Chapter VIIl-A of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 ("Issue"), the Board of Directors of the Company have vide resolution dated December 04, 2013 approved the allotment of 16,942,500 Equity Shares on a proportionate basis to the successful applicants at an Issue Price of Rs. 165 per Equity Share including a premium of Rs.163 per equity share on the basis approved in consultation with the ICICI Securities Limited, the Book Running Lead Manager to the Issue and overseen by the BSE Limited and National Stock Exchange of India Limited.

Upon issue and allotment of equity shares under the Issue as aforesaid, the promoter's shareholding in the Company stands reduced from 80.314% as hitherto to 74.999998% and public shareholding has increased from 19.686% to 25.000002% in line with Clause 40A (ii)(d) of the Equity Listing Agreement entered into with the Stock Exchanges. Further the subscribed and paid up share capital stands increased from Rs. 47,82,08,070/- (23,91,04,035 equity shares of Rs.2/- each) to Rs.51,20,93,070/- (25,60,46,535 equity shares of Rs.2/- each)

Shares of Alstom T & D India Ltd was last trading BSE at Rs.174.45, down by Rs.1.40 or 0.80%. The stock hit an intraday high of Rs.178 and intraday low of Rs.171.55.

The total traded quantity was 0.11 lakh shares as compared to 2 week average of 0.20 lakh shares.

Source : Equity Bulls

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