Religare Enterprises allots 12000000 Preference Shares

Religare Enterprises Ltd has announced that pursuant to the receipt of regulatory approvals, the Share Allotment Committee of Board of Directors of the Company, at its meeting held on December 03, 2010, has allotted 1,20,00,000 Redeemable Preference Shares of Rs. 10/- each ("Preference Share") of the Company for cash at a price of Rs. 100/- per Preference Share including a premium of Rs. 90/- per Preference Share to RHC Finance Private Limited, (a wholly owned subsidiary of RHC Holding Private Limited), one of the Promoter Group Companies).

The stock closed the day at Rs.489.05, down by Rs.13.60 or 2.71%. The stock hit an intraday high of Rs.524.45 and low of Rs.484.

The total traded quantity was 0.57 lakhs compared to 2 week average of 0.43 lakhs.

Source : Equity Bulls

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