Parsvnath Developers Ltd has informed BSE that with reference to the issue of Equity Shares of face value Rs. 10/- each of Parsvnath Developers Ltd. ("Equity Share") to qualified institutional buyers under Qualified Institutions Placement in terms of Chapter VIII of SEBI ICDR Regulations, 2009, as amended for an amount of up to Rs. 1680.07 million. In this regard, the duly authorized Committee of the Board of Directors of the Company has, at its meeting held October 07, 2009, decided to allot 1,38,56,272 Equity Shares of Rs. 10/- each at a price of Rs. 121.25 per share (including a premium of Rs. 111.25 per Equity Share) aggregating to Rs. 168,00,72,980 (Rupees One hundred sixty eight crore seventy two thousand nine hundred eighty only). The Equity Shares shall, subject to the provisions of the Memorandum and Articles of Association of the Company, rank pari-passu with the existing equity shares and would be entitled to such dividends and corporate benefits, if any declared by the Company after the allotment.