GEI Industrial Systems allots 1450000 Equity Shares at Rs 75

GEI Industrial Systems Ltd has announced that the Investment Committee of Board of Directors of the Company at its meeting held on August 20, 2009, inter alia, have approved the allotment of 1450000 Equity Shares of Rs 10/- each at Rs 75/- per share (including premium of Rs 65/- per share) to BanyanTree Growth Capital L.L.C., Mauritius on preferential allotment basis as per resolution passed by the members in the Extra Ordinary General Meeting held on July 14, 2009.

The stock closed the day at Rs.63.85, up by Rs.2.5 or 4.07%. The stock hit an intraday high of Rs.66.45 and low of Rs.61.50.

The total traded quantity was 198138 compared to 2 week average of 91658.

Source : Equity Bulls

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