Minda Industries Ltd approves allotment of 7092125 shares

The Fund Raising Committee of the Board of Directors of Minda Industries Ltd at its meeting held today i.e. 3 April, 2017, approved the issue and allotment of 70,92,125 Equity Shares of face value Rs. 2 each to eligible qualified institutional buyers at the issue price of Rs. 423 per Equity Share (including a premium of Rs. 421.00 per Equity Share), aggregating to Rs. 2,99,99,68,875.00 (Rupees Two Hundred Ninety Nine Crores Ninety Nine Lacs Sixty Eight Thousand Eight Hundred Seventy Five only).

The aforesaid meeting commenced at 2.30 p.m. and concluded at 2.50 p.m.

Shares of MINDA INDUSTRIES LTD. was last trading in BSE at Rs.437.6 as compared to the previous close of Rs. 442.85. The total number of shares traded during the day was 12707 in over 714 trades.

The stock hit an intraday high of Rs. 450.35 and intraday low of 434.2. The net turnover during the day was Rs. 5606681.

Source : Equity Bulls

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