Tulip Telecom to raise upto Rs 1000 crores

Tulip Telecom Ltd has announced that the Board of Directors of the Company at its meeting held on August 09, 2010, inter alia, has felt it necessary and discussed and approved under other item, subject to the Shareholders approval and approval of other Statutory and Regulatory authorities, if any, for raising of further funds by issuance of long term Securities including Equity, Bonds or any other appropriate Securities, in one or more tranches, either in India or abroad or in the course of domestic and / or international offering and or Qualified Institutional Placements, upto Rs. 1000 Crores.

The stock closed the day at Rs.181.95, up by Rs.0.40 or 0.22%. The stock hit an intraday high of Rs.184.50 and low of Rs.181.25.

The total traded quantity was 80245 compared to 2 week average of 138185.

Source : Equity Bulls

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