Dewan Housing allots 53.50 lakh equity shares to Promoters/Promoter Group

Dewan Housing Finance Corporation Ltd has announced that at the Extra Ordinary General Meeting held on June 27, 2009, the members had approved and authorised the Company to issue of upto 1,00,00,000 equity shares of Rs 10/- each on preferential allotment basis to the Promoters/Promoter Group in terms of Chapter XIII of SEBI (DIP) Guidelines.

The Committee Board of Directors of the Company at its meeting held on July 16, 2009, has issued and allotted 53,50,000 fully paid-up Equity Shares of Rs 10/- each, at a price of Rs 141/- per Equity shares (including a premium of Rs 131/- per Equity shares), aggregating to Rs 75,43,50,000/- (Rupees Seventy Five Crore Forty Three Lakh and Fifty Thousand only).

The said equity shares shall rank pari-passu in all respects with the existing equity shares of the Company and will be locked-in as per the SEBI guidelines.

With the aforesaid allotment the paid up share capital of the Company stands increased to Rs 81,88,52,060/- divided into 8,18,85,206 Equity Shares of face value of Rs 10/- each.

The stock was trading at Rs.122, up by Rs.2.75 or 2.31%. The stock hit an intraday high of Rs.123 and low of Rs.120.10.

The total traded quantity was 8929 compared to 2 week average of 79798.

Source : Equity Bulls

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