Veer Energy concludes QIP

Veer Energy & Infrastructure Ltd has announced that the Company has successfully raised capital worth Rs. 20,73,25,000/- through QIB's pursuant to Qualified Institutional Placement. The Company has issued further equity of 207,32,500 shares face value of Rs. 1/- each at a premium of Rs. 9/- per share. The Company proposed to utilize these funds for 200MW Wind farm development. The said securities are listed and admitted for trading with effective from September 16, 2010.

The stock was trading at Rs.9.60, up by Rs.0.21 or 2.24%. The stock hit an intraday high of Rs.10.27 and low of Rs.9.30.

The total traded quantity was 7.56 lakhs compared to 2 week average of 2.89 lakhs.

Source : Equity Bulls

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