Dhanalakshmi Bank allots shares under QIP

Dhanalakshmi Bank Ltd has announced that the QIP Committee of the Bank at its meeting held on July 21, 2010, has approved the issue of 2,10,00,000 Equity Shares of Rs. 10 each and allotted to applicants as per the list at the Issue Price of Rs. 181.30 per Equity Share (including Rs. 171.30 towards Share premium) against receipt of full payment of application monies in the Escrow Cash Account, aggregating to Rs. 380.73 Crore in accordance with the details specified in the Application Form and the Confirmation of Allocation Note and for the Issue.

The stock closed the day at Rs.178.95, up by Rs.1.35 or 0.76%. The stock hit an intraday high of Rs.180.50 and low of Rs.178.05.

The total traded quantity was 0.70 lakhs compared to 2 week average of 2.19 lakhs.

Source : Equity Bulls

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