Punj Lloyd QIP issue price at Rs 240.20

Punj Lloyd Ltd has announced that in respect of issue of Equity Shares of Face Value of Rs 2/- each in the Company ("Equity Shares") to QIBs under Qualified Institutions Placement in terms of Chapter XIII-A of SEBI (DIP) Guidelines, the Committee of Directors of the Company has approved the issuance of up to 27,900,920 Equity shares of Face Value of Rs 2/- each at a Price of Rs 240.20 per Equity Share (including a premium of Rs 238.20 per Equity Share), aggregating to Rs 6,701,800,984 to Qualified Institutional Buyers. In addition, Company informed that the Bid Closing Date is August 05, 2009. The Placement Document in this regard will also be filed.

The stock was trading at Rs.237.40, down by Rs.2.30 or 0.96%. The stock hit an intraday high of Rs.242 and low of Rs.235.65.

The total traded quantity was 890282 compared to 2 week average of 2257970.

Source : Equity Bulls

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