Usha Martin allots 5.45 crore shares under QIP at Rs 85.90

Usha Martin Ltd has announced that the Finance Committee of the Board of Directors of the Company at its meeting held on January 20, 2010, inter alia, issued and allotted 5,45,00,000 equity shares of Re. 1 each fully paid up at a price of Rs. 85.90 per share aggregating to Rs. 4,681.55 million to Qualified Institutional Buyers in terms of Chapter VIII of the Securities and Exchange Board of India [Issue of Capital and Disclosure Requirements] Regulations, 2009, as amended.

The stock closed the day at Rs.89.55, up by Rs.0.05 or 0.06%. The stock hit an intraday high of Rs.91.45 and low of Rs.88.15.

The total traded quantity was 194860 compared to 2 week average of 580297.

Source : Equity Bulls

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