Industrial Investment Trust to raise Rs.400 crore

Industrial Investment Trust Ltd has announced that in modification of the Company's earlier proposal for raising the funds by way of QIP / Rights Issue upto a limit of Rs. 350 crore, the Board in its meeting held on January 08, 2011 has decided to revise the limit from Rs. 350 crore to Rs. 400 crore and raise the funds by way of QIP / Rights Issue/ ADR / GDR / Preferential Allotment subject to necessary regulatory approvals.

The stock was trading at Rs.177, down by Rs.8.85 or 4.76%. The stock hit an intraday high of Rs.195 and low of Rs.177.

The total traded quantity was 70 compared to 2 week average of 222.

Source : Equity Bulls

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