Bank of Rajasthan to issue shares to Indus Capital Partners LLC, Max India Ltd

Bank of Rajasthan Ltd has announced that the Board of Directors of the Bank at its meeting held on October 25, 2007, has considered to issue 100,00,000 equity shares on preferential basis to M/s. Indus Capital Partners LLC N.Y. USA (65,00,000 shares) and M/s. Max India Ltd, New Delhi (35,00,000 shares) at a price calculated in accordance with chapter XIII of Guidelines for preferential Issue of the SEBI (DIP) Guidelines, 2000 or minimum Rs 150/- per share (face value of Rs 10/- and a premium of Rs 140/- per share) whichever is higher for cash subject to approval by the shareholders and approved to call Extra ordinary General Meeting for the purpose.

The stock closed the day at Rs.174, up by Rs.10.60 or 6.49%. The stock hit an intraday high of Rs.179 and low of Rs.163.50.

The total traded quantity was 1376409 compared to 2 week average of 1831962.

Source : Equity Bulls

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