Moneycontrol Bureau
Shares of Alstom T&D continued to rally for the third consecutive session on Monday as the company successfully raised more than Rs 279 crore through institutional placement programme (IPP) on Friday. The stock surged 4 percent in intraday trade today and 13 percent in three sessions.
IPP issue was subscribed 2.5 times on support from FIIs and long only funds. Promoters sold 1.69 crore shares through this issue at Rs 165 apiece.
ICICI Securities Limited was the investment banker for the issue.
Promoters Grid Equipments and Alstom Holdings were holding 80.31 percent stake (73.4 percent and 6.92 percent, respectively) as of September 30, 2013.
The stock closed at 182.05 on the BSE, up 1.25 percent compared to Friday's closing value.
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