Nexxoft Infotel to issue 52 lakh shares

Nexxoft Infotel Ltd has announced that the Board of Directors of the Company at its meeting held on December 12, 2009, inter alia, has approved the issue and allotment of 52,00,000 Equity Shares of Rs. 10/- with a premium of Rs. 6 per share (the issue price being not less than the price as arrived at, in accordance with the terms of Chapter XIII of SEBI - Disclosure and Investor Protection - Guidelines 2000) either for cash or for advance amount received if any, as may be deemed most appropriate by the board to the Promoters and Strategic Investors.

The Board approved proposal to hold an Extraordinary General Meeting of the shareholders on January 11, 2010 and approved the notice of the Extraordinary General Meeting to be issued to the members.

The stock was trading at Rs.16.51, down by Rs.0.09 or 0.54%. The stock hit an intraday high of Rs.17 and low of Rs.16.51.

The total traded quantity was 2599 compared to 2 week average of 25892.

Source : Equity Bulls

Keywords