Ansal Properties to allot ROCD to HDFC Ventures

Ansal Properties & Infrastructure Ltd has announced that the Board of Directors of the Company at its meeting held on July 25, 2008, subject to the approval of members and / or any other approval/s as may be required, have approved the issuance of 20,73,770 Nos. of Secured Redeemable Optionally Convertible Debentures ("ROCD") of Rs 100/- each, of the Company bearing interest 16.50% p.a., to M/s. HDFC Ventures Trustee Company Ltd ("HI-REF")at a price of Rs 305/- per ROCD.

The requisite approval of the members (shareholders) of the Company shall be sought by way of voting through Postal Ballot in terms of Section 192A and other applicable provisions, if any, of the Companies Act, 1956.

The stock closed the day at Rs.92.90, down by Rs.2.60 or 2.72%. The stock hit an intraday high of Rs.96 and low of Rs.92.15.

The total traded quantity was 125238 compared to 2 week average of 368659.

Source : Equity Bulls

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