GSS America Infotech to raise Rs 80 crores through QIP

GSS America Infotech Ltd has announced that the Committee of the Company at its meeting held on April 20, 2010, has decided to make an issuance of an aggregate amount not exceeding Rs. 80.00 Crores to Qualified Institutional Buyers (QIBs) in terms of chapter VIII of the Securities and Exchange Board of India (Issue of capital and Disclosure Requirements) Regulations 2009, as amended and for this purpose, to open the issue on April 28, 2010.

The Committee has also approved the Preliminary Placement Document in respect of the Equity shares proposed to be issued as aforesaid.

The stock closed the day at Rs.351.20, up by Rs.15 or 4.46%. The stock hit an intraday high of Rs.357 and low of Rs.339.

The total traded quantity was 362197 compared to 2 week average of 249682.

Source : Equity Bulls

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