XL Telecom & Energy allots 1865156 shares

XL Telecom & Energy Ltd has announced that the Board of Directors of the Company at its meeting held on September 24, 2010, inter alia, have approved the allotment of 18,65,156 equity shares of Rs. 10/- each at a rate of Rs. 150/- per share to Goldman Sachs Investments (Mauritius) I Limited, on conversion of 7.50 million Foreign Currency Convertible Bonds.

The Company has raised Rs. 23,06,76,660/- by issuing 2,30,67,666 Cumulative Redeemable Preference Shares of Rs 10/- each to banks.

The stock was trading at Rs.31.90, up by Rs.5.30 or 19.92%. The stock hit an intraday high of Rs.31.90 and low of Rs.26.50.

The total traded quantity was 4.44 lakhs compared to 2 week average of 0.44 lakhs.

Source : Equity Bulls

Keywords