SREI Infrastructure allots 72 Lakh equity shares

SREI Infrastructure Finance Ltd has announced that the Committee of Directors of the Company at its meeting held on March 31, 2008 have allotted 72,00,000 Equity shares of Rs 10/- each of the Company at a premium of Rs 90/- per share in physical mode to M/s. Bharat Connect Ltd, an entity belonging to Promoters' Group, on the exercise of their option for being allotted Equity Shares of the Company against 72,00,000 Warrants.

Further, the Company has also cancelled 72,00,000 Warrants held by M/s. Bharat Connect Ltd.

The stock closed the day at Rs.137.25, up by Rs.2.20 or 1.63%. The stock hit an intraday high of Rs.141.45 and low of Rs.129.

The total traded quantity was 608460 compared to 2 week average of 234737.

Source : Equity Bulls

Keywords