Manappuram General Finance to raise Rs.1000 crores through QIP

Manappuram General Finance & Leasing Ltd has announced that the Board of Directors of the Company at its meeting held on October 04, 2010, inter alia, approved proposal to raise up to a maximum of Rs. 1000 Cr by Qualified Institutional Placement.

The Board also approved proposal to call an extra ordinary general meeting of the members of the company on October 29, 2010 to seek their approval for the aforesaid item.

The stock closed the day at Rs.162.50, up by Rs.12 or 7.97%. The stock hit an intraday high of Rs.165.40 and low of Rs.152.85.

The total traded quantity was 14.08 lakhs compared to 2 week average of 8.82 lakhs.

Source : Equity Bulls

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