MHRIL board fixes Rs 255 per scrip for issue of shares

Mahindra group firm Mahindra Holidays & Resorts India (MHRIL) today said its board has finalised the price of Rs 255 per scrip for the issue of shares to qualified institutional buyers.

IPP issue committee of the board of directors of the company has finalised the issue price of Rs 255 per equity share to be issued pursuant to an institutional placement programme to qualified institutional buyers, MHRIL said in a filing to BSE.

The company had said in a earlier filing that in accordance with the conditions stipulated in the Sebi Letter dated February 28, 2013, the number of allottees in the issue may be less than 10, subject to compliance with the requirements of the provisions of Regulation 87(1) of the Sebi Regulations.

Earlier, MHRIL's IPP issue committee of its board had fixed the price band at Rs 255 to Rs 265 per share for the proposed issue of over 41 lakh shares to QIB

 

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Shares of MHRIL were trading at Rs 259.15 per scrip in the afternoon trade on BSE, down 1.73 per cent from its previous close.