Sadbhav Engineering Ltd allots shares through QIP

The QIP Committee (the "Committee") of the Board of Directors of Sadbhav Engineering Ltd at its meeting held on October 21, 2014, has, decided to issue and allot on October 21, 2014, 1,15,74,000 equity shares of face value Re. 1 each ("Equity Shares") at a price of Rs. 216 per Equity Share (including a premium of Rs. 215 per Equity Share), aggregating to Rs. 249,99,84,000/- (Rupees Two Hundred Fourty Nine Crores Ninety Nine Lacs Eighty Four Thousand only) in accordance with Section 42 of the Companies Act, 2013 (including the rules made thereunder) and Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended.

Post allotment, the paid up Equity Share Capital of the Company would stands at 17,14,35,800 equity shares of Re. 1/- each aggregating to Rs. 17,14,35,800/-.

Shares of SADBHAV ENGINEERING LTD. was last trading in BSE at Rs.213.5 as compared to the previous close of Rs. 213.4. The total number of shares traded during the day was 3926 in over 276 trades.

The stock hit an intraday high of Rs. 215 and intraday low of 211.65. The net turnover during the day was Rs. 839737.

Source : Equity Bulls

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