Gammon Infrastructure Projects Ltd allots 204174286 shares through QIP

Pursuant to the Board and shareholders resolution dated June 20, 2014 and July 15, 2014 respectively, the QIP Committee of Directors of Gammon Infrastructure Projects Ltd at its meeting held on September 08, 2014, has approved the issue and allotment of 20,41,74,286 equity shares to eligible qualified institutional buyers at the issue price of Rs. 12.68 per equity share, aggregating to approximately Rs. 258.89 crores under Chapter VIII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and section 42 of the Companies Act, 2013 (including the rules made there under).

Shares of GAMMON INFRASTRUCTURE PROJECTS LTD. was last trading in BSE at Rs.14.32 as compared to the previous close of Rs. 14.69. The total number of shares traded during the day was 72347 in over 557 trades.

The stock hit an intraday high of Rs. 15 and intraday low of 14.3. The net turnover during the day was Rs. 1050756.

Source : Equity Bulls

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