Essar Oil allots 92844531 shares

Essar Oil Ltd has announced that the Company on April 27, 2010 has issued and allotted 92,844,531 equity shares of Rs. 10/- each (face value) fully paid up at a price of Rs. 144 per share in favour of the overseas Depository. The Bank of New York Mellon, being the underlying shares for the issue of 606,827 GDSs aggregating to US $293.30 million. The GDSs have been subscribed by Promoter Company, Essar Energy Holdings Ltd.

The stock was trading at Rs.141.15, up by Rs.1.35 or 0.97%. The stock hit an intraday high of Rs.141.70 and low of Rs.136.50.

The total traded quantity was 523807 compared to 2 week average of 1119761.

Source : Equity Bulls

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