Lok Housing to raise upto $200 million

Lok Housing & Constructions Ltd has announced that the Board of Directors of the Company at its meeting held on August 10, 2009, inter alia, has decided to raise funds.

The Board approved plan to raise the funds from Foreign Market through issue of GDRs/ ADRs/ FCCBs an OFIs to the extend of 200 million US $.

The Board also approved plan to raise the funds from Local Market through Qualified Institutional Placement(QIP) to the extent of Rs 400 Crores.

The stock closed the day at Rs.30.65, down by Rs.1.60 or 4.96%. The stock hit an intraday high of Rs.33.20 and low of Rs.30.65.

The total traded quantity was 100785 compared to 2 week average of 162330.

Source : Equity Bulls

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