Cipla allots 25630000 shares at Rs 263.75

Cipla Ltd has announced that the duly authorised Committee of Directors (CoD) of the Company at its meeting held on September 29, 2009, has issued and allotted 2,56,30,000 fully paid-up equity shares of Rs 2 each ("Equity Shares") at an issue price of Rs 263.75 per Equity Share (including a premium of Rs 261.75 per Equity Share) aggregating to Rs 6,75,99,12,500 to qualified institutional bidders by way of a qualified institutions placement in terms of Chapter VIII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The stock closed the day at Rs.279.85, up by Rs.12.65 or 4.73%. The stock hit an intraday high of Rs.281.50 and low of Rs.268.25.

The total traded quantity was 1125436 compared to 2 week average of 352617.

Source : Equity Bulls

Keywords