Jubilant Organosys allots 11237517 shares

Jubilant Organosys Ltd has announced With reference to the Capital Issue Committee, a duly authorised committee of the Board of Directors of the Company, (the "Committee") had approved the price for issue of shares to Qualified Institutional Buyers, the Bid Closing Date and Placement Document in respect of such issue.

The Committee at its meeting held on March 31, 2010, has approved the allotment of 11,237,517 equity shares of Re. 1/- each at a price of Rs. 344.50 per share, aggregating to Rs. 387.13 crores to Qualified Institutional Buyers under Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, against receipt of full payment of application monies in the escrow cash account opened by the Company.

The stock was trading at Rs.339.30, up by Rs.1.25 or 0.37%. The stock hit an intraday high of Rs.346 and low of Rs.338.

The total traded quantity was 22863 compared to 2 week average of 79161.

Source : Equity Bulls

Keywords