HCL Infosystems to issue 30555713 Equity Shares under QIP

HCL Infosystems Ltd has announced that the Committee of Directors (Securities) of the Company (the "CoD") at its meeting held on October 16, 2009, has approved the issuance of 3,05,55,713 Equity Shares at a price of Rs. 154.69 per Equity Share (including a premium of Rs. 152.69 per Equity Share), aggregating to Rs. 4,72,66,63,244 to Qualified Institutional Buyers, pursuant to Chapter VIII of the SEBI Regulations. Further the Company has informed that the CoD has passed necessary resolutions fixing the Issue Closing Date for the said issue as being October 16, 2009 and approving the Placement Document in this regard.

Further the Company has informed that the Floor Price in respect of the aforesaid Qualified Institutions Placement, based on the pricing formula as prescribed in Regulation 85 of Chapter VIII of SEBI Regulations is Rs. 154.69 per Equity Share and the Relevant Date for this purpose, in terms of Regulation 81 of Chapter VIII of SEBI Regulations is October 14, 2009.

The stock closed the day at Rs.167.10, up by Rs.5.60 or 3.47%. The stock hit an intraday high of Rs.170 and low of Rs.163.

The total traded quantity was 89111 compared to 2 week average of 200698.

Source : Equity Bulls

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