HDIL to issue shares, warrants at Rs 240

Housing Development & Infrastructure Ltd (HDIL) has announced that pursuant to the approval of Shareholders at the Extra Ordinary General Meeting of the Company held on June 17, 2009, has completed the issue of 7,03,50,000 Equity Shares at a price of Rs 240/- per share - including premium of Rs 230 per Share under QIP Issue.

The Board has completed issue of 26,000,000 Equity Warrants on preferential basis convertible in to Equity Shares each at a price of Rs 240/- per share - including premium of Rs 230 per Share to the promoter of the Company.

The stock was trading at Rs.229.70, down by Rs.6.80 or 2.88%. The stock hit an intraday high of Rs.239 and low of Rs.227.

The total traded quantity was 3404844 compared to 2 week average of 6710883.

Source : Equity Bulls

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