 "KDDL zooms 20% on preferential issue plan to SAIF Partners")
Shares of KDDL were locked at the upper circuit of 20% at Rs 330 on the BSE in an otherwise weak market on the news that SAIF Partners plans to invest about Rs 30 crore through preferential issue.
“The board of directors of KDDL at its meeting held on July 24, 2015 have approved to issue and allotment of up to 1,008,400 equity shares of face value Rs 10 each, on a preferential basis to SAIF India V Fll Holdings Limited, a qualified institutional buyer (QIB) for a total subscription amount of up to Rs 30 crore at a price of Rs 297.50 per equity share,” the company said in a BSE filing.
KDDL Limited is a diverse company focusing on the business of watches and precision engineering.
Till 09:47 AM, around 17,000 shares changed hands on the counter and there were pending buy orders for 68,477 shares on the BSE.
“The board of directors of KDDL at its meeting held on July 24, 2015 have approved to issue and allotment of up to 1,008,400 equity shares of face value Rs 10 each, on a preferential basis to SAIF India V Fll Holdings Limited, a qualified institutional buyer (QIB) for a total subscription amount of up to Rs 30 crore at a price of Rs 297.50 per equity share,” the company said in a BSE filing.
KDDL Limited is a diverse company focusing on the business of watches and precision engineering.
Till 09:47 AM, around 17,000 shares changed hands on the counter and there were pending buy orders for 68,477 shares on the BSE.