Reliance Energy allots 585423 equity shares

Reliance Energy Ltd has announced that the Committee of Directors of the Company at its meeting held on November 26, 2007, has allotted 5,85,423 equity shares of Rs 10 each for cash at a price of Rs 1,006.92 (including a premium of Rs 996.92) per Share to various Foreign Institutional Investors against the conversion of 13,030 Zero Coupon Foreign Currency Convertible Bonds.

Consequent upon the said allotment, the paid-up capital of the Company stands increased to 23,46,95,323 fully paid-up equity shares of Rs 10 each.

The stock was trading at Rs.1787.90, up by Rs.62.80 or 3.64%. The stock hit an intraday high of Rs.1808 and low of Rs.1754.

The total traded quantity was 432422 compared to 2 week average of 1198974.

Source : Equity Bulls

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