Radico Khaitan approves allotment of 28919000 shares

Radico Khaitan Ltd has announced that the Issue Committee of Directors of the Company at its meeting held on March 17, 2010, has approved the issuance of 2,89,19,000 Equity Shares of Rs. 2/- each at a price of Rs. 118.19 per Equity Share (including a premium of Rs. 116.19 per Equity Share), aggregating to Rs. 3,41,79,36,610/- to Qualified Institutional Buyers, pursuant to Chapter VIII of the SEBI Regulations.

Further the Company has informed that, the Issue Committee has passed necessary resolutions fixing the Issue Closing Date for the said Issue as being March 17, 2010 and approving the Placement Document in this regard.

The stock was trading at Rs.124, down by Rs.1.20 or 0.96%. The stock hit an intraday high of Rs.126.20 and low of Rs.123.10.

The total traded quantity was 13015 compared to 2 week average of 166248.

Source : Equity Bulls

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