ING Vysya Bank fixes QIP issue price as Rs 310

ING Vysya Bank Ltd has announced that based on the analysis of bids received from the qualified institutional buyers pursuant to the proposed issue of Equity Shares through qualified institution placement ("QIP") under Chapter XIII-A of SEBI (Disclosure & Investor Protection) Guidelines 2000 and in consultation with Enam Securities Pvt Ltd, the Lead Manager, the Managing Director and the Chief Financial Officer of the Bank, pursuant to the authority conferred by the Board resolution dated October 06, 2007 have decided the Issue Price for the QIP as Rs 310/- (including a premium of Rs 300/- per Equity Share) per Equity Share of the face value of Rs 10/- each.

Further the Bank has informed that, the QIP issue was closed on November 08, 2007.

The stock was trading at Rs.303, down by Rs.12.50 or 3.96%. The stock hit an intraday high of Rs.306 and low of Rs.296.

The total traded quantity was 3179 compared to 2 week average of 43479.

Source : Equity Bulls

Keywords