GMR Infrastructure Ltd allots 359478241 Equity Shares

The Management Committee of the Board of Directors of GMR Infrastructure Ltd at its Meeting held on August 26, 2015 has allotted 35,94,78,241 Equity Shares, upon automatic conversion of 5,683,351 Series A Compulsorily Convertible Preference Shares of face value Rs.1000/- each, carrying a coupon of 0.001% per annum, having a term of 17 months from the date of allotment ("Series A CCPS"), each fully paid up, of Re. 1/- each at Rs. 15.81 per Equity Share (including a premium of Rs. 14.81 per Equity Share) determined in accordance with Regulation 76 of the Securities and Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2009 to the allottees.

Consequent to the above allotment, the paid up equity capital of the Company has increased from 5,29,58,00,389 to 565,52,78,630.

The requirement of lock in of the subject equity shares, allotted on preferential basis in terms of SEBI (ICDR) Regulations 2009, will be decided as per the advice of the Stock Exchanges.

Shares of GMR INFRASTRUCTURE LTD. was last trading in BSE at Rs.11.63 as compared to the previous close of Rs. 12.23. The total number of shares traded during the day was 1547785 in over 1923 trades.

The stock hit an intraday high of Rs. 12.54 and intraday low of 11.56. The net turnover during the day was Rs. 18591866.

Source : Equity Bulls

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