PTC India to raise Rs 1200 Crore through QIB Issue

PTC India Ltd has announced that the Board of Directors of the Company at its meeting held on October 23, 2007, inter alia, has considered & approved the proposal to raise Rs 1200 Crores were approved by the Board through Qualified Institutional Buyer's (QIB) guidelines of SEBI.

Subject to the approval of shareholders, the Board has recommended to increase the FIIs limits for equity capital to 60% from the present limit of 40%.

The stock was trading at Rs.103, up by Rs.1.95 or 1.93%. The stock hit an intraday high of Rs.108 and low of Rs.101.35.

The total traded quantity was 845454 compared to 2 week average of 2851307.

Source : Equity Bulls

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