UTI Bank allots equity shares at Rs.620 per share

UTI Bank Ltd has announced that the Bank on July 27, 2007, has made allotment of the following:

A. 2,82,64,934 equity shares @ Rs 620/- per share inclusive of premium of Rs 610/- per share by way of Qualified Institutional Placement (QIP) to QIBs.

B. 1,41,32,466 Global Depositary Receipts (GDRs), (each GDR representing one underlying fully paid up equity share @ Rs 620/- per share inclusive of premium of Rs 610/- per share to investors.

C. 3,06,95,129 equity shares to six institutions, namely The Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI), LIC, GIC, New India Assurance, Oriental Insurance and United India Insurance @ Rs 620/- per share inclusive of premium of Rs 610/- per share.

The stock closed on Friday at Rs.608.75, down by Rs.4.80 or 0.78%. The total traded quantity was 161243 compared to 2 week average of 99347. The stock hit an intraday high of Rs.620.50 and low of Rs.593.

Source : Equity Bulls

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