Jindal Drilling allots 12 Lakh equity shares to Citigroup

Jindal Drilling & Industries Ltd (JDIL), is engaged in the business of offshore oil & gas drilling in India.

JDIL has allotted 12,00,000 equity shares on preferential basis to citigroup at a price of Rs 1,280/- (including premium of Rs 1,270/-) per equity share of Rs 10/- each, aggregating to Rs 153.60 crores. The entire money has been received by the Company, which would be utilized for general corporate purposes including present and future capital expenditure programme, long term working capital requirements and for ongoing and future business commitments / plans of the Company.

The Stock closed on Wednesday at Rs.1306.90, down by Rs.53.25 or 3.92%. The stock hit an intraday high of Rs.1369 and low of Rs.1300.

The total traded quantity was 4176 compared to 2 week average of 8017.

Source : Equity Bulls

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