Unitech to issue 344361112 shares at Rs 81

Unitech Ltd has announced that a duly authorized committee of the board of directors of the Company has decided that the bid closing date for the Issue is June 30, 2009 and that further to bids received from qualified institutional buyers pursuant to the issue, the Committee has approved the issue of 344,361,112 equity shares of face value of Rs. 2 each of the Company at a price of Rs. 81/- per equity share (including a premium of Rs. 79/- per share) aggregating to Rs. 2789,32,50,072/- (Rupees Two Thousand Seven Hundred Eighty Nine Crore Thirty Two Lac Fifty Thousand Seventy Two only).

The stock was trading at Rs.79.80, up by Rs.0.20 or 0.25%. The stock hit an intraday high of Rs.81.40 and low of Rs.77.30.

The total traded quantity was 9337980 compared to 2 week average of 22417919.

Source : Equity Bulls

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