Nagarjuna Construction allots equity shares on preferential basis to Blackstone Group

Nagarjuna Construction Company Ltd has announced that pursuant to the powers delegated by the Board of Directors at its meeting held on August 28, 2007, the Executive Committee of the Board had at its meeting held on October 03, 2007 accorded approval for allotment of 19528135 Equity shares of Rs 2/- each to M/s. Blackstone GPV Capital Partners Mauritius V-A Ltd and 718765 Equity Shares of Rs 2/- each to M/s. Blackstone FP Capital Partners (Mauritius) V FII Ltd., on preferential basis.

The aforesaid allotment of Equity Shares of Rs 2/- has been made at a premium of Rs 200.50 per share. Consequent to the aforesaid allotment the existing Paid-up share capital of the company of Rs 41,70,44,560 (divided into 208522280 shares of Rs 2/- each) stands increased to Rs 45,75,38,360 (divided into 228769180 shares of Rs 2/- each).

The stock closed the day at Rs.276.50, up by Rs.19.45 or 7.57%. The stock hit an intraday high of Rs.304.70 and low of Rs.260.

The total traded quantity was 733599 compared to 2 week average of 339688.

Source : Equity Bulls

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