Unity Infraprojects to issue 1449476 shares to raise Rs 73.34 crore

Unity Infraprojects Ltd has announced that the QIP Committee of the Board of Directors of the Company at its meeting held on December 21, 2009 has determined December 21, 2009 to be the issue closing date and Rs. 506/- per equity share to be the issue price pursuant to the qualified institutions placement of the equity shares under the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 ("SEBI Regulations") to Qualified Institutional Buyers ("QIBs") as defined under 2(1)(zd) of the SEBI Regulations (the "Placement").

The Committee has also approved the Placement Document in respect of the equity shares proposed to be issued as aforesaid. The Company proposes to issue 14,49,476 equity shares of face value of Rs. 10 each to raise aggregate proceeds of Rs. 733.43 million and net proceeds of Rs. 700.96 Millions, after deduction of estimated issue expenses amounting to Rs. 32.47 Millions. The outstanding paid up capital of the Company pursuant to the issue shall be Rs. 148.17 million.

The stock closed the day at Rs.503.95, up by Rs.4.70 or 0.94%. The stock hit an intraday high of Rs.513.70 and low of Rs.495.

The total traded quantity was 25029 compared to 2 week average of 28005.

Source : Equity Bulls

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