Hindustan Construction allots 4.7 crore shares

Hindustan Construction Company Ltd has announced that the duly authorised Committee of the Board of Directors of the Company at its meeting held on July 04, 2009, inter alia, has issued and allotted 4,70,00,000 fully paid-up Equity Shares of Re 1/- each at an issue price of Rs 102.15 per Equity Share (including a premium of Rs 101.15 per Equity Share), aggregating to Rs 480,10,50,000/- (Rupees Four Hundred Eighty Crore Ten Lakhs and Fifty Thousand Only) to QIBs by way of Qualified Institutions Placement in terms of Chapter XIII-A of SEBI Guidelines.

Consequent to the issue and allotment of the Equity Shares as aforesaid, the Paid-up Equity Share Capital of the Company stands increased from the present Rs 25,62,49,600/- (Rupees Twenty Five Crore Sixty Two Lakhs Forty Nine Thousand Six Hundred Only) divided into 25,62,49,600 Equity Shares of face value Re 1/- each, to Rs 30,32,49,600/- (Rupees Thirty Crore Thirty Two Lakhs Forty Nine Thousand Six Hundred Only) divided into 30,32,49,600 Equity Shares of face value Re 1/- each.

The stock closed on Friday at Rs.108.90, up by Rs.2.05 or 1.92%. The stock hit an intraday high of Rs.109.70 and low of Rs.104.

The total traded quantity was 1379042 compared to 2 week average of 2055640.

Source : Equity Bulls

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