Exelon Infrastructure allots 2366075 shares

Exelon Infrastructure Ltd has announced that the Board of Directors of the Company at its meeting held on March 04, 2010, the Company has allotted 23,66,075 equity shares to the non promoters at a price of Rs. 23/- per share which includes premium of Rs. 13/- per share.

The allottees include M. Rama Krishna - 7,33,478 shares, Y. Anitha - 7,34,782 shares, M. Sree Lakshmi - 2,56,521 shares, K. Swarna Kumari - 5,60,869 shares and I. K. Projects (P) Ltd - 80,425 shares.

For this purpose, the company has fixed the board meeting date i.e. March 04, 2010 as relevant date and accordingly considered average closing prices quoted on the Bombay Stock Exchange as per SEBI Preferential Issue Guidelines for fixation of the price. The issue price was arrived at Rs. 22.19 per share and against which the price was fixed at Rs. 23 per share. The said shares are subjected to lock-in for 1 year from the date of allotment being allotted to the non-promoters.

The above said shares were earlier forfeited by the company for non payment of call money.

The stock was trading at Rs.18.30, up by Rs.0.85 or 4.87%. The stock hit an intraday high of Rs.18.30 and low of Rs.17.30.

The total traded quantity was 68721 compared to 2 week average of 84573.

Source : Equity Bulls

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