Marico to raise Rs 151cr via issue to QIBs

The board of Marico Industries has approved an issue of 29 lakh new equity shares of Rs 10 each at a price of Rs 522 per share to qualified institutional buyers (QIBs). The issue will mop up Rs 151 crore.

According to an official release issued by the company, the issue price is above the floor price calculated in accordance with clause 13A.3 of Sebi Guidelines.

Citigroup Global Market India and Kotak Mahindra Capital Company acted as the global co-ordinators and joint book runners for this Issue, the release added.