Jain Irrigation to allot 20 lakh shares on Preferential basis

Jain Irrigation Systems Ltd has announced that the Sub-Committee of Board of the Company at its meeting held on March 02, 2009 proposed to allot 20,00,000 Equity Shares on preferential basis to International Finance Corporation under SEBI (DIP) Guidelines, 2000 as applicable to the transaction.

The sub-committee has convened Extra Ordinary General Meeting (EGM) of Shareholders of the Company on March 26, 2009 to obtain their consent / approval to the proposed issue.

The Jain Irrigation stock was trading at Rs.352, down by Rs.12.45 or 3.42%. The stock hit an intraday high of Rs.369.50 and low of Rs.352.

The total traded quantity was 2817 compared to 2 week average of 22457.

Source : Equity Bulls

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