Northgate Technologies Closes QIP Issue

Northgate Technologies Ltd has announced with reference to the issue of equity shares of face value of Rs. 10/- each of Northgate Technologies Limited by way of Qualified Institutional Placement under Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, that the QIP Committee of the Board of Directors of the Company in its meeting held on November 10, 2010 decided to close the QIP issue with immediate effect. The issue was opened on October 29, 2010.

The stock closed the day at Rs.29.05, up by Rs.2.60 or 9.83%. The stock hit an intraday high of Rs.29.05 and low of Rs.25.90.

The total traded quantity was 16.94 lakhs compared to 2 week average of 5.53 lakhs.

Source : Equity Bulls

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