PVR approves allotment of shares

PVR Ltd has announced that the Board of Directors of the Company at its meeting held on January 01, 2010, inter alia, has approved the allotment of 25,57,000 Equity Shares of Rs. 10/- each of the Company for cash at a price of Rs. 165/- per share (including a premium of Rs. 155/- per shares) to M/s. Major Cineplex Group Public Company Ltd. on preferential basis.

The Board approved allotment of 11.40%, 290 Secured Redeemable Non-Convertible Debentures of Rs. 10 lacs each to be issued in the form of Separately Transferable Redeemable Principal Parts (STRPPs) of Rs. 1 Lacs each.

However allotment to DT Cinemas Ltd. has been deferred for certain pending compliances with regards to handover of properties to the Company.

The stock was trading at Rs.184, down by Rs.2 or 1.08%. The stock hit an intraday high of Rs.189 and low of Rs.182.

The total traded quantity was 2222 compared to 2 week average of 23084.

Source : Equity Bulls

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