Dewan Housing Finance allots 16869095 Equity Shares to QIBs

Dewan Housing Finance Corporation Ltd has announced that, subsequent to the approval accorded by the Shareholders of the Company under Section 81 (1A) and other applicable provisions of the Companies Act, 1956, at the Extra-Ordinary General Meeting (EGM) held on May 18, 2010 to the issuance of equity shares and /or other securities by way of a Qualified Institutions Placement with Qualified Institutional Buyers (QIBs) in terms of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended, upto for an amount not exceeding Rs. 375 Crore (Rupees Three Hundred And Seventy Five crore only), the Committee of the Board of Directors of the Company has, at its meeting held on June 02, 2010, issued and allotted 1,68,69,095 fully paid-up Equity Shares of Rs 10/- each, at a price of Rs 222.30 per Equity Share (including a premium of Rs. 212.30 per Equity Share), aggregating to Rs. 374,99,99,818.50 (Rupees Three Hundred and Seventy Four crore Ninety Nine Lakh Ninety Nine Thousand Eight Hundred Eighteen and Paise Fifty Only).

Consequent to the issue and allotment of the Equity Shares as aforesaid, the Paid-up Equity Share Capital of the Company stands increased from the present Rs. 82,06,42,740/- divided into 8,20,64,274 Equity Shares of face value of Rs. 10/- each to Rs. 98,93,33,690/- divided into 9,89,33,369 equity Shares of face value of Rs. 10/- each.

The stock was trading at Rs.227.50, up by Rs.1.85 or 0.82%. The stock hit an intraday high of Rs.230.70 and low of Rs.226.05.

The total traded quantity was 3083 compared to 2 week average of 41245.

Source : Equity Bulls

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