Elder Pharmaceuticals closes QIP issue

Elder Pharmaceuticals Ltd has announced that after the closure of the Qualified Institutions Placement issue on September 21, 2010, the Board of Directors of the Company, at their meeting held on September 24, 2010, have allotted 1,679,450 Equity Shares of Rs. 10/- each of the Company for cash at an issue price of Rs. 415/- including a premium of Rs. 405/- per share.

The stock closed the day at Rs.413.70, up by Rs.1.05 or 0.25%. The stock hit an intraday high of Rs.417.90 and low of Rs.410.

The total traded quantity was 102332 compared to 2 week average of 58917.

Source : Equity Bulls

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