Ushdev International approves allotment of 18 lakh shares at Rs 296

Ushdev International Ltd has announced that the Board of Directors of the Company at its meeting held on March 13, 2010, has approved the allotment of 18,00,000 equity shares of Rs. 10/- each at a premium of Rs. 296/- per share to Mr. Vijay Gupta (HUF) - Promoter of the Company.

The shareholders had approved the issue of 18,00,000 equity shares of Rs. 10/- each at a premium of Rs. 296/- per share to Mr. Vijay Gupta (HUF) on preferential basis at the EGM held on February 26, 2010.

The Board of Directors have also approved the availing of the credit facilities to the extent of Rs. 75 crores.

The stock was trading at Rs.240, up by Rs.7.60 or 3.27%. The stock hit an intraday high of Rs.242 and low of Rs.237.

The total traded quantity was 966 compared to 2 week average of 3252.

Source : Equity Bulls

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