Tech Mahindra to issue 1.36 crore shares

Tech Mahindra Ltd has announced that the Board of Directors of the Company on June 22, 2009, inter alia, has subject to approval by the shareholders and other approvals as may be necessary, approved the issue of upto 13,600,000 (Thirteen million Six hundred thousand) Equity Shares by private placement or Qualified Institutional Placement in accordance with the Guidelines for Qualified Institutional Placement prescribed under Chapter XIII-A of the SEBI (Disclosure and Investor Protection) Guidelines, 2000.

The stock was trading at Rs.744, up by Rs.3.85 or 0.52%. The stock hit an intraday high of Rs.757.30 and low of Rs.718.50.

The total traded quantity was 416067 compared to 2 week average of 1629739.

Source : Equity Bulls

Keywords