Jai Balaji Industries raises Rs 198.51 crores through QIP of Equity Shares

Jai Balaji Industries Ltd has announced that the duly authorized committee of the Board of Directors of the Company viz. Management (Finance) Committee, at its meeting held on October 28, 2009 has allotted 8,295,586 Equity Shares of face value of Rs. 10/- each to Qualified Institutional Buyers under QIP as per Chapter VIII of the SEBI Regulations at a price of Rs. 239.30 per Equity Share (Including a premium of Rs. 229.30 per Equity Share), aggregating to Rs. 1985.13 million.

Consequent to the issue and allotment of the equity shares as aforesaid the issued, subscribed & paid-up Capital stands increased from 55,485,900 equity shares of Rs. 10 each to 63,781,486 equity shares of Rs. 10 each.

The stock closed the day at Rs.261.05, down by Rs.4.65 or 1.75%. The stock hit an intraday high of Rs.265 and low of Rs.257.

The total traded quantity was 31788 compared to 2 week average of 28931.

Source : Equity Bulls

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