Gammon India QIP issue priced at Rs 237.45

Gammon India Ltd has announced that the QIP Committee of the Company at its meeting held on December 15, 2009, inter alia, accorded their approval for the issue and allotment of 12,809,400 Equity Shares of Rs. 2/- each, at the Issue Price of Rs. 237.45/- per Equity Share (Including Rs. 235.45/- Per Equity share towards share premium) against receipt of full payment of application monies in the Special Account, aggregating to Rs. 3,041,592,030/- (Rupees Three Hundred and Four Crores Fifteen Lacs Ninety Two Thousand and Thirty Only).

The stock was trading at Rs.225.05, down by Rs.7.15 or 3.08%. The stock hit an intraday high of Rs.237.80 and low of Rs.225.05.

The total traded quantity was 53395 compared to 2 week average of 79220.

Source : Equity Bulls

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