GVK Power allots 3,75,69,230 Equity Shares under the QIP Offering

GVK Power & Infrastructure Ltd has announced that the QIP Committee of the Company at its meeting held on May 14, 2007 has issued and allotted 3,75,69,230 Equity Shares of Rs 10/- each at a premium of Rs 315/- per equity share (Issue Price of Rs 325/- per share) to the Qualified Institutional Buyers under Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and investor Protection) Guidelines, 2000.

The stock was trading at Rs.380.10, up by Rs.4.60 or 1.23%. The stock hit an intraday high of Rs.394 and low of Rs.373.20. The total traded quantity was 42419 compared to 2 week average of 69819.

Source : Equity Bulls

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