Lanco Infratech QIP issue priced at Rs 394.90

Lanco Infratech Ltd has announced that in respect of issue of Equity Shares of Face Value of Rs 10/- each in the Company ("Equity Shares") to QIBs under Qualified Institutions Placement in terms of Chapter XIII-A of SEBI (DIP) Guidelines, the Issue Committee of the Board of Directors of the Company has approved the issuance of up to 18,418,587 Equity Shares of Face Value of Rs 10/- each at a Price of Rs 394.90 per Equity Share (including a premium of Rs 384.90 per Equity Share), aggregating to Rs 7,273.50 Million to Qualified Institutional Buyers. In this respect, the Company has further informed that, the Issue Committee of the Board extended the Bid Closing Date to August 04, 2009.

The stock was trading at Rs.411, down by Rs.0.55 or 0.13%. The stock hit an intraday high of Rs.416.90 and low of Rs.407.30.

The total traded quantity was 142412 compared to 2 week average of 1015716.

Source : Equity Bulls

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