Vishal Retail to raise funds through preferential issue

Vishal Retail Ltd has announced that the Board of Directors of the Company at its Meeting held on January 11, 2008 has decided that the Company will raise funds through preferential allotment route. The issue structure will be framed by the Corporate Executive Committee of the Company.

The Corporate Executive Committee of the Company will also identify the prospective Allottees to whom shares or convertible securities will be allotted. Further, such Committee shall in consultation with the Auditors of the Company decide the price of the securities to be allotted.

The stock closed the day at Rs.915.90, up by Rs.37.10 or 4.22%. The stock hit an intraday high of Rs.940 and low of Rs.874.

The total traded quantity was 24618 compared to 2 week average of 8944.

Source : Equity Bulls

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