REI Six Ten Retail to raise $200 million

REI Six Ten Retail Ltd has announced that the Board of Directors of the Company at its meeting held on August 24, 2010, has given in principle approval to raise funds in one or many tranches by issue of Rights Shares, Convertible Securities, Depository Receipts, Qualified Institutional Placements (QIPs) and any other securities up to US$200 Million, subject to approval of shareholders in their general meeting.

The stock closed the day at Rs.95.15, down by Rs.1.05 or 1.09%. The stock hit an intraday high of Rs.100.65 and low of Rs.94.

The total traded quantity was 158001 compared to 2 week average of 181487.

Source : Equity Bulls

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