Shipping Corporation of India fixes FPO price band at Rs.135 to Rs.140

Shipping Corporation of India Ltd has announced that Empowered Group of Ministers (EGoM) of the Government of India, in its meeting held on November 26, 2010, has decided the Price Band of Rs. 135/- to Rs. 140/- per equity share (floor price of Rs. 135/- per equity share and a cap of Rs. 140/- per equity share) for the Follow-on Public Offering / Government Sale of Shares of The Shipping Corporation of India Ltd.

A discount of 5% on the issue price to (i) retail individual bidders and (ii) eligible employees who apply for allotment of shares out of the quota reserved for them.

The stock closed the day at Rs.145.40, down by Rs.1.30 or 0.89%. The stock hit an intraday high of Rs.148.75 and low of Rs.143.

The total traded quantity was 1.26 lakhs compared to 2 week average of 1.11 lakhs.

Source : Equity Bulls

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