Proto Developers to consider issue of 50 crore shares on Oct 16, 2009

Proto Developers & Technologies Ltd has announced that a meeting of the Board of Directors of the Company will be held on October 16, 2009, to consider the issue of 50,00,00,000 (Filly Crores) Equity Shares of Re. 1/- each at a premium of Re. 1/- per share amounting to Rs. 100 Crores on preferential basis to the allotees (non promoter / non promoter group) to part finance the acquisition of a Fashion Technology Park (FTP) project at Chandigarh, at an estimated outlay of Rs. 675 Crores.

The stock closed the day at Rs.1.42 up by Rs 0.02 or 1.43%. The stock hit an intraday high of Rs 1.48 and intraday low of Rs 1.28.

The total traded quantity was 21786 compared to 2 week average of 32046.

Source : Equity Bulls

Keywords