Cipla allots 2.56 crore shares under QIP

Cipla Ltd has announced that the duly authorized Committee of Directors (CoD) of the Company at its meeting held on September 24, 2009, has decided to close the bid period and has approved issuance of 2,56,30,000 Equity Shares of Rs. 2 each of the Company at a price of Rs. 263.75 per Equity Share (including a premium of Rs. 261.75 per equity share) under the QIP issue, aggregating to Rs. 6,75,99,12,500/-. The Committee has also approved the Placement Document in respect of the Equity Shares proposed to be issued as aforesaid.

The stock closed the day at Rs.29, down by Rs.0.80 or 0.31%. The stock hit an intraday high of Rs.261.15 and low of Rs.255.05.

The total traded quantity was 142855 compared to 2 week average of 197231.

Source : Equity Bulls

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