UTV Software to raise Rs 75 crore from LIC

UTV Software Communications Ltd has announced that the Board of Directors of the Company at its meeting held on April 28, 2009, inter alia, has approved the issue of Non-Convertible Debentures upto Rs 75 Crores on private placement basis to LIC Mutual Fund Assets Management Company.

The Board also approved the Postal Ballot Notice seeking the approval of members for the alteration of Articles of Association o the Company.

The stock closed the day at Rs.306.80, down by Rs.21.40 or 6.52%. The stock hit an intraday high of Rs.347 and low of Rs.301.10.

The total traded quantity was 111281 compared to 2 week average of 181438.

Source : Equity Bulls

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