Shares of VA Tech Wabag surged 7 per cent to Rs 204.65 on the BSE within the intra-day commerce on Wednesday after the corporate allotted 5 million fairness shares to Rekha Rakesh Jhunjhunwala, spouse of ace investor Rakesh Jhunjhunwala on preferential foundation.
VA Tech Wabag, the Indian multinational participant within the water therapy trade, had determined to boost Rs 120 crore through preferential difficulty on August 25.
Consequently, the board had accepted difficulty of seven.5 million fairness shares at value of Rs 160 per share, the corporate mentioned in its BSE submitting.
On Tuesday, the board allotted 5 million shares to Rekha Rakesh Jhunjhunwala, 1.5 million shares to Basera House Finance, and 1 million shares to Sushma Anand Jain and Anand Jaikumar Jain. READ HERE
Prior to now three months, the market value of VA Tech Wabag has rallied 87 per cent, as in comparison with eight.6 per cent rise within the S&P BSE Sensex.
At 09:50 am, the inventory was up 5 per cent at Rs 200 on the BSE, as in opposition to zero.26 per cent decline within the S&P BSE Sensex. A mixed round 660,000 fairness shares had modified palms on the counter on the NSE and BSE until the time of writing o this report.
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