Su-Raj Diamonds to issue 1.8 crore shares to FIIs

Su-Raj Diamonds & Jewellery Ltd has announced that the Board of Directors of the Company at its meeting held on August 26, 2009, inter alia, have proposed to issue upto 1,80,00,000 (One Crore Eighty Lakh) Equity Shares to the Foreign Institutional Investors (FIIs).

The issue of Equity Shares is subject to the approval of members under the provisions of Section 81(1A) of the Companies Act, 1956 and will be in terms of Guidelines for Preferential Issues contained in Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 and other applicable Rules / Regulations / Guidelines of Securities and Exchange Board of India and other regulatory authorities.

The stock closed the day at Rs.47.75, up by Rs.5.85 or 13.96%. The stock hit an intraday high of Rs.49.75 and low of Rs.42.25.

The total traded quantity was 371819 compared to 2 week average of 51350.

Source : Equity Bulls

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