Phoenix Mills allocates Equity Shares to Qualified Institutional Buyers

Phoenix Mills Ltd has announced that the Issue of Equity shares to Qualified Institutional Buyers by way of Qualified Institutions Placement under Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 ("the SEBI Guidelines") ("the issue") has closed and "QIP Committee" of the Board of Directors of the Company in its meeting held on July 31, 2007 has approved the allocation of 49,00,000 Equity Shares having face value of Rs 10/- each at a premium of Rs 1,990/- per equity share, thus aggregating Rs 980,00,00,000/- to the Qualified Institutional Buyers.

The stock was trading at Rs.2008.50, up by Rs.6.70 or 0.33%. The stock hit an intraday high of Rs.2019 and low of Rs.1951.10. The total traded quantity was 6068 compared to 2 week average of 5061.

Source : Equity Bulls

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