ING Vysya Bank to raise funds through QIP

ING Vysya Bank Ltd has announced that the Board of Directors of the Bank at its meeting held on October 06, 2007, has decided to raise capital through issue of up to 74,75,276 Equity Shares by way of Qualified Institutional Placement to Qualified Institutional Buyers & up to 60,72,762 Equity Shares by way of Preferential Allotment to ING Mauritius Holdings and ING Mauritius Investment I, subject to the approval from the Shareholders & Regulatory Authority.

The stock was trading at Rs.263.50, down by Rs.3.70 or 1.38%. The stock hit an intraday high of Rs.272.85 and low of Rs.263.

The total traded quantity was 10142 compared to 2 week average of 19496.

Source : Equity Bulls

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