Ackruti City allots 6035871 shares at Rs 501

Ackruti City Ltd has announced that with respect to the issue of equity shares of face value of Rs.10 each in the Company to QIBs under Qualified Institutions Placement in terms of Chapter VIII of SEBI (Issue of Capital and Disclosure Requirements) Regulations 2009. the duly authorized QIP Committee of the Board of Directors of the Company at its meeting held on September 10, 2009, has issued and allotted 60,35,871 (Sixty Lac Thirty Five Thousand Eight Hundred Seventy One only) fully paid-up equity shares at a price of Rs. 501 (Rupees Five Hundred One) per equity share (including a premium of Rs. 491 (Rupees Four Hundred Ninety One) per equity share), aggregating Rs. 302,39,71,371. (Rupees Three Hundred Two Crore Thirty Nine Lac Seventy One Thousand Three Hundred Seventy One only).

Consequent to the issue and allotment of the equity shares as aforesaid, the issued subscribed and paid-up equity share capital of the Company stands increased from present Rs.66,70,00,000 (Rupees Sixty Six Crore Seventy Lac) divided into 6,67,00,000 (Six Crore Sixty Seven Lac) equity shares of face value of Rs. 10 each, to Rs. 72,73,58,710 (Rupees Seventy Two Crore Seventy Three Lac Fifty Eight Thousand Seven Hundred Ten only) divided into 7,27,35,871 (Seven Crore Twenty Seven Lac Thirty Five Thousand Eight Hundred Seventy One) equity shares of face value of Rs. 10 each.

The stock was trading at Rs.558, down by Rs.8.80 or 1.55%. The stock hit an intraday high of Rs.574.70 and low of Rs.555.10.

The total traded quantity was 11175 compared to 2 week average of 230116.

Source : Equity Bulls

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