GMR Infrastructure Ltd approves issue of 468,817,097 Equity Shares at Rs. 31.50

In respect of the QIP, the Management Committee of the Board of Directors of GMR Infrastructure Ltd has, at its meeting held on July 10, 2014, approved the issue and allotment of 468,817,097 Equity Shares to eligible qualified institutional buyers at the issue price of Rs. 31.50 per Equity Share which is at a discount of Rs. 1.64 per Equity Share on the Floor Price of Rs. 33.14 per Equity Share, aggregating to approximately Rs. 1,476.77 crore under the SEBI Regulations and Section 42 of the Companies Act, 2013, other applicable provisions and rules prescribed thereunder.

Shares of GMR INFRASTRUCTURE LTD. was last trading in BSE at Rs.28.45 as compared to the previous close of Rs. 28.2. The total number of shares traded during the day was 6122868 in over 21483 trades.

The stock hit an intraday high of Rs. 30.35 and intraday low of 27.05. The net turnover during the day was Rs. 177117050.

Source : Equity Bulls

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