Godrej Industries QIP Issue priced at Rs 215

Godrej Industries Ltd has announced that The Placement of Equity Shares of Godrej Industries Ltd (the "Company") under Chapter XIII-A of Securities Exchange Board of India (Disclosure and Investor Protection Guidelines), 2000 ("SEBI (DIP) Guidelines") opened on November 15, 2007 and closed on November 15,2007. The Committee constituted by the Board of the Company at its meeting held on November 15, 2007 approved the issuance of 2,79,06,950 (Two Crore Seventy Nine Lakhs Six Thousand Nine Hundred Fifty) equity shares at a price of Rs 215/- (Face Value Re 1/- per equity share and Premium Rs 214/- per equity share) per equity share, aggregating Rs 599,99,94,250/- in gross proceeds, pursuant to a Qualified Institutional Placement under Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000.

The Preliminary Placement Document relating to the placement, dated November 12, 2007 has been updated with the placement details and is now referred to as the Placement Document, dated November 15, 2007.

The stock was trading at Rs.265.90, up by Rs.12.65 or 5%. The stock hit an intraday high of Rs.265.90 and low of Rs.243.30.

The total traded quantity was 186764 compared to 2 week average of 158637.

Source : Equity Bulls

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