Opto Circuits to issue 21430484 equity shares at Rs 186.65

Opto Circuits India Ltd has announced that the duly authorised QIP Committee of the Board of Directors of the Company at its meeting held on September 10, 2009, inter alia, approved the Placement Document / Other Documents and finalized the Issue Price.

The QIP Committee has further authorised the Company to issue up to 21,430,484 Equity Shares of Rs 10 each at a price of Rs 186.65 per Equity Share (including a premium of Rs 176.65 per Equity Share), aggregating to Rs 4,000 Million, in respect of the issue of Equity Shares of the Company of face value of Rs 10 each by the Company to QIBs in terms of Chapter VIII of the SEBI ICDR Regulations ("Issue").

The stock was trading at Rs.204.50, down by Rs.1.90 or 0.92%. The stock hit an intraday high of Rs.212.90 and low of Rs.203.10.

The total traded quantity was 2148435 compared to 2 week average of 605367.

Source : Equity Bulls

Keywords