Godrej Industries subsidiary Godrej Properties allots shares

Godrej Industries Ltd has announced that with reference to the Initial Public Offer of 9,429,750 Equity Shares of Rs. 10/- each (the "Equity Shares") by Godrej Properties Ltd. ("GPL"), a subsidiary of Godrej Industries Ltd. ("GIL" or the "Company") ("Issue"), GPL has filed a prospectus dated December 16, 2009 with the Registrar of Companies, Mumbai.

Further the Company has informed that, at the meeting of the Board of Directors of GPL held on December 23, 2009, the allotment of 9,429,750 Equity Shares to the respective applicants in the various categories, pursuant to the Public Issue, has been decided and approved, in consultation with the Global Coordinators and Book Running Lead Managers and Book Running Lead Managers.

The Godrej Industries stock closed the day at Rs.179.55, up by Rs.5.25 or 3.01%. The stock hit an intraday high of Rs.182.60 and low of Rs.173.80.

The total traded quantity was 479740 compared to 2 week average of 317416.

Source : Equity Bulls

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