Vardhman Textiles allots 5882352 Equity Shares to QIBs

Vardhman Textiles Ltd has announced that the Committee of Board of Directors of the Company at its meeting held on November 03, 2010 has issued and allotted 58,82,352 Equity Shares of the face value of Rs. 10/- each at a price of Rs. 340/- per equity share (including premium of Rs. 330/- per equity share ) aggregating to Rs. 199,99,99,680/- (Rs. One ninety nine crore ninety nine lac ninety nine thousand and six eighty only) to Qualified Institutional Buyers under Qualified Institutions Placement (QIP) in compliance of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2009 as amended.

The stock closed the day at Rs.344.80, down by Rs.10.30 or 2.90%. The stock hit an intraday high of Rs.358.80 and low of Rs.342.35.

The total traded quantity was 0.24 lakhs compared to 2 week average of 0.88 lakhs.

Source : Equity Bulls

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