Ansal Properties Closes Qualified Institutional Placement

Ansal Properties & Infrastructure Ltd has announced that in respect of issue of equity shares of face value Rs. 5/- each of the Company to QIBs under Qualified Institutions Placement in terms of Chapter VIII of the SEBI Regulations, the QIP Committee of the Board of Directors of the Company has, decided to close the issue on October 08, 2010 with immediate effect.

Based on the bids received, the Company will be issuing 25,726,291 Equity Shares of Rs. 5/- each at a price of Rs. 89.95 per Equity Share (including a premium of Rs. 84.95 per Equity Share) aggregating to approx. Rs. 2,314.07 million.

The stock was trading at Rs.89.70. The stock hit an intraday high of Rs.90.45 and low of Rs.88.10.

The total traded quantity was 1.29 lakhs compared to 2 week average of 4.93 lakhs.

Source : Equity Bulls

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