Bank of Rajasthan EGM approves preferential issue to Indus Capital Partners, Max India

Bank of Rajasthan Ltd has announced that the Shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on November 30, 2007, inter alia, accorded the Board to create, offer, issue and allot, at its sole discretion to M/s. Indus Capital Partners LLC N.Y. USA 65,00,000 shares constituting 4.50% and to M/s. Max India Ltd, New Delhi 35,00,000 equity shares constituting 2.42% of the total post-issue paid up share capital of the Bank of Rs 10/- each at a price of Rs 166.75 per share (face value of Rs 10/- and a premium of Rs 156.75 per share) calculated in accordance with chapter XIII of Guidelines for preferential Issue of the SEBI (DIP) Guidelines,2000 for cash on a preferential basis, subject to necessary provisions & approvals.

The stock was trading at Rs.136.20, down by Rs.1.15 or 0.84%. The stock hit an intraday high of Rs.139.90 and low of Rs.135.10.

The total traded quantity was 24465 compared to 2 week average of 134275.

Source : Equity Bulls

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