Kpit Cummins allots shares to Cummins Inc

Kpit Cummins Infosystems Ltd has announced that subsequent to the approval of the shareholders of the Company on November 16, 2007, the Share Allotment Committee of the Company at its meeting held on November 26, 2007, has approved the allotment of 1,510,877 equity shares of Rs 2/- each to Cummins Inc., USA, on preferential basis against a cash consideration of USD 5 Mn., at a price of Rs 130.09 per equity share, being the price determined in accordance with SEBI (DIP) Guidelines.

Source : Equity Bulls

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