Info-Drive Software allots 15851330 shares through QIP

Info-Drive Software Ltd has announced that the QIP Committee Meeting of the Board of Directors was held on November 11, 2010 have approved the issue of shares.

The Board approved allotment of 15,851,330 Equity Shares at Rs. 25/- each (Face Value Rs. 10/- Premium: Rs. 15/-) to the Qualified Institutional Buyers (5 Nos).

The stock was trading at Rs.27.80, up by Rs.1.60 or 6.11%. The stock hit an intraday high of Rs.28.50 and low of Rs.25.55.

The total traded quantity was 0.15 lakhs compared to 2 week average of 0.12 lakhs.

Source : Equity Bulls

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