Allied Digital closes QIP issue of Equity Shares

Allied Digital Services Ltd has announced that the duly authorized Management Committee of the Board of Directors at its meeting held on October 16, 2009, has decided to close the Qualified Institutions Placement (QIP) of Allied Digital Services Ltd of Equity Shares of Rs. 10/- each as determined by the Book Building Process under "Chapter VIII of the Securities and Exchange Board of India ("SEBI") Issue of Capital and Disclosure Requirements ("ICD") Regulations. 2009 ("the Issue") and has approved the issuance of 49,00,000 (Forty Nine lacs) Equity Shares of Rs. 10/- each for cash at price Rs 472.29/- per Equity share (including a premium of Rs. 462.29/- per Equity Share) aggregating to Rs. 2,31,42,21,000/- (Rupees Two Hundred and Thirty One Crores, Forty Two Lacs and Twenty One Thousand Only).

The stock closed the day at Rs.493.95, up by Rs.5.60 or 1.15%. The stock hit an intraday high of Rs.503 and low of Rs.489.

The total traded quantity was 20289 compared to 2 week average of 58195.

Source : Equity Bulls

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