Wire & Wireless to issue 236767351 shares at Rs 19

Wire & Wireless India Ltd has announced that the Board of Directors of the Company at its meeting held on August 04, 2009, has approved issue of 23,67,67,351 equity shares of face value of Re 1/- of the Company for cash at a price of Rs 19/- per equity share including a premium of Rs 18/- per equity share aggregating to Rs 44985 lacs to the equity shareholders of the Company on rights basis in the ratio of 109 equity shares for every 100 equity shares.

The issue price of Rs 19/- per equity share shall be payable in 2(two) installments; Rs 9/- will be paid on application and balance Rs 10/- will become payable after 6 months but within a period of 12 months from the date of allotment.

The stock closed the day at Rs.20.15, up by Rs.0.25 or 1.26%. The stock hit an intraday high of Rs.20.80 and low of Rs.19.90.

The total traded quantity was 2909692 compared to 2 week average of 1957393.

Source : Equity Bulls

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