GI Engineering approves allotment of 11 lakh shares at Rs 18

GI Engineering Solutions Ltd has announced that the Board of Directors of the Company at its Meeting held on February 22, 2010, inter alia, has approved the allotment of 11,00,000 Equity Shares of Rs. 10/- each at a price of Rs. 18/- including premium of Rs. 8/- per Equity Share to M/s. Fortune Private Equity LLC, Abu Dhabi, UAE under Non-Promoters category on Preferential allotment Basis, pursuant to the Special Resolution passed under section 81(1A) of the Companies Act, 1956 by the Members of the Company at an Extra Ordinary General Meeting.

The stock closed the day at Rs.18.85, down by Rs.0.95 or 4.80%. The stock hit an intraday high of Rs.20.25 and low of Rs.18.85.

The total traded quantity was 14883 compared to 2 week average of 10472.

Source : Equity Bulls

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