Dhanalakshmi Bank updates on QIP issue

Dhanalakshmi Bank Ltd has announced that a duly authorized Committee of the Board of Directors of the Bank ("Committee") has decided that the bid closing date for the Placement is July 19, 2010 and further to bids received from qualified institutional buyers pursuant to the Placement, the Committee, has approved the issue and allotment of 2,10,00,000 equity shares of the Bank at a price of Rs. 181.30 per equity share of the Bank aggregating to Rs. 380.73 Crore (Rupees three hundred and eighty crore seventy three lacs only).

The stock was trading at Rs.178.45, down by Rs.1.05 or 0.58%. The stock hit an intraday high of Rs.182.30 and low of Rs.178.25.

The total traded quantity was 87734 compared to 2 week average of 238917.

Source : Equity Bulls

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