India Cements Issues equity shares to QIBs

India Cements Ltd has announced that the Company in consultation with its Joint Global Coordinators viz., ABN AMRO Securities (India) Pvt Ltd and Deutsche Equities India Pvt Ltd, has finalized the issue of 207.89 Lakh equity shares of Rs 10/- each at a price of Rs 285/- per share (including premium) involving a total sum of Rs 592.50 crores (US$ 150 million), to Qualified Institutional Buyers (QIBs) in terms of Chapter XIII A of Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000.

The paid up capital of the Company on allotment of the aforesaid shares will go up from Rs 260.37 crores to Rs 281.16 crores.

The stock was trading at Rs.302, up by Rs.9.25 or 3.16%. The stock hit an intraday high of Rs.309 and low of Rs.297.

The total traded quantity was 146201 compared to 2 week average of 536722.

Source : Equity Bulls

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