Sobha Developers allots 25162135 Equity Shares

Sobha Developers Ltd has announced that in respect of issue of Equity shares of face value Rs 10 each in the Company to Qualified Institutional Buyers ("QIBs") under Qualified Institutions Placement in terms of Chapter XIII-A of the SEBI (Disclosure and Investor Protection) Guidelines, 2000, as amended ("SEBI Guidelines"), the duly authorised Committee of the Board of Directors of the Company, has at its meeting held on July 03, 2009, allotted 25,162,135 Equity shares of face value Rs 10 each at a price of Rs 209.40 per Equity share (including a premium of Rs 199.40 per Equity share), aggregating Rs 5,268,951,069 (Rupees Five Billion, Two Hundred Sixty Eight Million, Nine Hundred and Fifty One Thousand and Sixty Nine only).

The stock closed on Friday at Rs.225.65, up by Rs.2.10 or 0.94%. The stock hit an intraday high of Rs.233 and low of Rs.219.

The total traded quantity was 104094 compared to 2 week average of 56908.

Source : Equity Bulls

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