Chromatic India allots 22500000 shares

Chromatic India Ltd has announced that the Board of Directors of the Company at its meeting held on October 07, 2010, inter alia, have decided and allotted 22,500,000 equity shares on preferential basis at Rs. 39/- per equity share.

The Board also approved the opening of GDR (Global Depository Receipt) issue for an aggregate amount up to INR 500 Crores after obtaining the requisite regulatory approvals. The minimum issue price of the said GDRs i.e. for the underlying Equity Shares has been determined at Rs. 32/- per Equity share as per the amended guidelines vide circular dated November 27, 2008 issued by the Ministry of Finance, Government of India.

The stock closed the day at Rs.36.50, up by Rs.1.70 or 4.89%. The stock hit an intraday high of Rs.36.50 and low of Rs.36.45.

The total traded quantity was 0.26 lakhs compared to 2 week average of 0.24 lakhs.

Source : Equity Bulls

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