Jubilant Organosys prices QIB issue at Rs 344.50

The Capital Issue Committee, a duly authorised committee of the Board of Directors of the Company, (the "Committee") had approved the Preliminary Placement Document in respect of the issue of shares to Qualified Institutional Buyers, authorised the opening of the said issue and fixed the Bid Opening Date for the same.

Jubilant Organosys Ltd has now announced that the Committee at its meeting held on March 29, 2010, has decided to price the issue to Qualified Institutional Buyers at Rs. 344.50 per share i.e. at a premium of Rs. 343.50 per share. The number of shares will be 11,237,517 and the aggregate issue amount will be Rs. 387.13 crores.

Further the Company has informed that the Committee has fixed Bid Closing Date for the said issue as March 29, 2010.

The stock closed the day at Rs.338.05, down by Rs.5.25 or 1.53%. The stock hit an intraday high of Rs.345.80 and low of Rs.337.

The total traded quantity was 19235 compared to 2 week average of 81890.

Source : Equity Bulls

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