18 Apr 2022 , 09:48 AM
The Board of Directors’ fund-raising committee has approved the issue and allotment of 85,559,435 new equity shares through this Institutional Placement. The Placement issue price is set at Rs101.10 per equity share, which represents a discount of 4.96% to the applicable floor price of Rs106.38 per equity share calculated by applicable SEBI regulations. The fundraising resulted in an overall 15.8% dilution for current shareholders.
The company launched this institutional placement on April 7, 2022, and witnessed a strong response from both existing as well as new institutional investors including domestic and global funds. Nearly ~50% of the demand was from new investors and 70%+ of the book was allocated to long-only investors.
Mr. K. G. Krishnamurthy, Non-Executive Chairman & Independent Director commented, “We are delighted to have successfully concluded the placement. We appreciate the continuous confidence and support of the investment community amid ongoing geopolitical headwinds and turbulent markets.”
Axis Capital Limited, Jefferies India Private Limited, JM Financial Limited, SBI Capital Markets Limited, and IIFL Securities Limited were the Joint Bookrunning Lead Managers for the offering.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.