Veer Energy & Infrastructure closes QIP issue

Veer Energy & Infrastructure Ltd has announced that the Board of Directors of the Company at its meeting held on September 06, 2010, inter alia, has approved that QIP issue of the Company be closed on September 06, 2010.

The issue price of equity shares of Re. 1/- each be fixed at Rs. 10/- per equity share for the purpose of Qualified Institutional Placement (QIP) under Chapter VIII of SEBI (ICDR) Regulations, 2009.

The Company proposes to issue 2,07,32,500 (Two Crores Seven Lacs Thirty Two Thousand Five Hundred) equity shares of Re. 1/- each to raise aggregate proceeds of Rs. 20,73,25,000/- (Twenty Crores Seventy Three Lacs Twenty Five Thousand). The outstanding paid up capital of the Company after the issue shall be Rs. 7,11,32,500/- (Seven Crores Eleven Lacs Thirty Two Thousand Five Hundred).

The stock closed the day at Rs.7.85, up by Rs.0.02 or 0.26%. The stock hit an intraday high of Rs.7.97 and low of Rs.7.66.

The total traded quantity was 0.85 lakhs compared to 2 week average of 2.62 lakhs.

Source : Equity Bulls

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