Andhra Cements allots shares to IDFC

Andhra Cements Ltd has announced that Committee of Board of Directors (CoD) of the Company at its meeting held on September 04, 2007 has allotted 87,40,000 equity shares of Rs 10/- at a premium of Rs 18.60/- per share to M/s. Infrastructure Development Finance Company Ltd (IDFC) on preferential basis as per the SEBI Guidelines and in terms of the Resolution passed by the shareholders at Extra-ordinary General Meeting held on August 21, 2007.

The stock was trading at Rs.36.85, up by Rs.1.35 or 3.80%. The stock hit an intraday high of Rs.37.50 and low of Rs.35. The total traded quantity was 93560 compared to 2 week average of 841319.

Source : Equity Bulls

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