United Spirits raises Rs 1615.59 crores through QIP issue at Rs 913.70

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 under a Qualified Institutions Placement in terms of Chapter VIII the SEBI Regulations for an amount of up to Rs. 1615,59 crores (US$ 350 million), that the duly authorised Committee of Directors of the Board of Directors of the Company has, at its meeting held on October 23, 2009 approved the issuance of 17,681,952 Equity Shares at a price of Rs. 913.70 per Equity Share (including a premium of Rs. 903.70 per Equity Share) aggregating to Rs. 16,155,999,542.40.

Consequent to the above allotment, the paid up Equity Capital of the Company stands increased to Rs. 1,255,943,290/- divided into 125,594,329 Equity Shares of Rs. 10/- each from the existing paid up Equity Capital of Rs. 1,079,123,770/- divided into 107,912,377 Equity Shares of Rs 10/- each.

The stock closed the day at Rs.1018.40, up by Rs.12.10 or 1.20%. The stock hit an intraday high of Rs.1033 and low of Rs.1010.85.

The total traded quantity was 55710 compared to 2 week average of 160263.

Source : Equity Bulls

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