GVK Power to issue 173361500 shares

GVK Power & Infrastructure Ltd has announced that a Sub-Committee of Board of Directors (the "Committee") of the Company has decided that the bid closing date for the Issue is July 07, 2009 and that further to bids received from qualified institutional buyers (QIB)pursuant to the Issue, the Committee has approved the issue of 173,361,500 equity shares of the Company at a price of Rs 41.35/- per equity share of the Company aggregating to Rs 7,168,498,025/- (Rupees Seven hundred and sixteen crores eighty four lacs ninety eight thousand twenty five only).

The stock was trading at Rs.39.90, down by Rs.1.55 or 3.74%. The stock hit an intraday high of Rs.41.90 and low of Rs.39.50.

The total traded quantity was 2906071 compared to 2 week average of 8083883.

Source : Equity Bulls

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