Punj Lloyd issues 29,600,000 equity shares

Punj Lloyd Ltd has announced that in terms of the Special Resolution passed by the Shareholders in the Annual General Meeting held on July 27, 2007, the Company has decided to issue upto 29,600,000 equity shares of Rs 2 each at the Issue price of Rs 275 per equity share aggregating to an issue size of upto Rs 814 crores, by way of QIP offering, in terms of Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 as amended. The settlement date for the issue is expected to be August 21, 2007.

Citigroup Global Markets India Pvt Ltd is acting as the Senior Global Coordinator and Book Running Lead Manager and Kotak Mahindra Capital Company is acting as the Global Coordinator and Book Running Lead Manager to the issue.

The stock was trading at Rs.262.20, down by Rs.7.75 or 2.87%. The stock hit an intraday high of Rs.264 and low of Rs.256. The total traded quantity was 609004 compared to 2 week average of 1003121.

Source : Equity Bulls

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