United Spirits to issue Equity Shares to QIBs through QIP

United Spirits Ltd has announced with reference to the issue of Equity Shares of face value of Rs. 10/- each of United Spirits Ltd (the "Equity Shares") to Qualified Institutional Buyers ("QIBs) under a Qualified Institutions Placement ("QIP")in terms of Chapter VIII the SEBI Regulations for an amount of up to Rs. 16,814 million (USD 350 million), that the duly authorised Committee of the Board of Directors of the Company has, at its meeting held on October 14, 2009 approved the Preliminary Placement Document and decided to open the Bid period as specified in the Preliminary Placement Document.

The stock closed the day at Rs.921.40, up by Rs.5.95 or 0.65%. The stock hit an intraday high of Rs.933.35 and low of Rs.915.

The total traded quantity was 43577 compared to 2 week average of 82849.

Source : Equity Bulls

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