Peninsula Land to raise funds through issue of shares

Peninsula Land Ltd has announced that subject to the approval of the members of the Company and applicable statutory approvals, the Board of Directors of the Company at its meeting held on September 21, 2007, has approved the issue upto 6,00,00,000 equity shares of Rs 2/- each (Face Value to the Company's share sub-divided from Rs 10/- each to Rs 2/- each as per the resolution passed by the shareholders at the Annual General Meeting held on September 21, 2007) to Domestic / Foreign Investors / Institutional Investors / Foreign Institutional Investors / Qualified Institutional Buyers, etc. through a public issue / Qualified Institutional Placement and / or any other means as may be permitted by the applicable regulations.

The stock closed the day at Rs.596.35, down by Rs.5.65 or 0.94%. The stock hit an intraday high of Rs.619 and low of Rs.593.

The total traded quantity was 89312 compared to 2 week average of 136899.

Source : Equity Bulls

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