Gujarat Pipavav Port Ltd to raise Rs.350 crore

The Board of Directors of Gujarat Pipavav Port Ltd at its meeting held on May 03, 2012, approved raising equity amounting to INR 3,500 million in the combination of Preferential Allotment to Promoters and Qualified Institutional Placement (QIP) subject to Shareholders' approval.

The Gujarat Pipavav Port Ltd stock was trading in BSE at Rs.57.75, down by Rs.2.40 or 3.99%. The stock hit an intraday high of Rs.60.50 and low of Rs.57.35.

The total traded quantity was 1.74 lakhs compared to 2 week average of 0.60 lakhs.

Source : Equity Bulls

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