Emami raises Rs 310 crore through QIP issue

Emami Ltd has announced that the duly authorized committee of the Board of Directors viz. Share Transfer and Shareholders / Investors Grievance Committee, at its meeting held on July 02, 2009 has decided to close the issue and has approved the issuance of 1,00,00,000 (One Crore) Equity Shares of Rs 2/- each for cash at a price Rs 310/- per Equity Share (including a premium of Rs 308/- per Equity Share) aggregating to Rs 310/- Crore. (Rupees Three Hundred and Ten Crore only).

The stock closed the day at Rs.347.45, down by Rs.4.40 or 1.25%. The stock hit an intraday high of Rs.358.95 and low of Rs.345.15.

The total traded quantity was 3082 compared to 2 week average of 43302.

Source : Equity Bulls

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