Reliance Communications Ltd allots 338286197 shares at Rs. 142.14

The QIP Committee of the Board of Directors of Reliance Communications Ltd, at its meeting held on July 02, 2014, has issued and allotted 33,82,86,197 Equity Shares of face value of Rs. 5/- each to the eligible Qualified Institutional Buyers (QIBs) at a price of Rs. 142.14 per Equity Share (including a premium of Rs. 137.14 per Equity Share) aggregating to Rs. 4,808.40 crore under the SEBI ICDR Regulations and Section 42 of the Companies Act, 2013 and the rules made thereunder.

Post the said allotment, the paid-up equity share capital of the Company stands increased to Rs. 12,01,15,65,390 comprising of 2,40,23,13,078 equity shares of Rs. 5/- each.

Shares of RELIANCE COMMUNICATIONS LTD. was last trading in BSE at Rs.144.9 as compared to the previous close of Rs. 145.85. The total number of shares traded during the day was 968737 in over 10542 trades.

The stock hit an intraday high of Rs. 147.2 and intraday low of 144.5. The net turnover during the day was Rs. 141136926.

Source : Equity Bulls

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