Adani Enterprises to close QIP issue

Adani Enterprises Ltd has announced that, the QIP Issue Committee of the Company has at its meeting held on July 23, 2010 determined to close the issue and Rs. 536.15 per equity share to be the issue price pursuant to the qualified institutions placement of the equity shares. The Committee has also approved the Placement Document in respect of the equity shares proposed to be issued as aforesaid. The Company proposes to issue 7,46,05,987 equity shares of face value of Rs. 1 each to raise aggregate proceeds of Rs. 4000 Crores. The outstanding paid up capital of the Company pursuant to the issue shall be Rs. 61.19 crores.

The stock closed the day at Rs.555.25, down by Rs.3.75 or 0.67%. The stock hit an intraday high of Rs.565 and low of Rs.550.

The total traded quantity was 1.52 lakhs compared to 2 week average of 1.76 lakhs.

Source : Equity Bulls

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