Lakshmi Vilas Bank provides update on QIP issue

Closes issue on 31 December 2016; Floor price is Rs 141.15 per share

Lakshmi Vilas Bank announced that in respect of the QIP, the Committee of Directors for Capital Raising of the Bank (the "Committee") at its meeting held on 31 December 2016, has inter alia, passed the following resolutions:

a. Approved the closure of the QIP on 31 December 2016;

b. Approved the issue price of Rs. 140.00 per Equity Share (including premium of Rs. 130.00 per Equity Share), which is at a discount of Rs. 1.15 per Equity Share, to the Floor Price of Rs. 141.15 per Equity Share, for the issuance and allocation of 1,19,85,138 Equity Shares to be allotted to eligible qualified institutional buyers pursuant to the QIP aggregating upto Rs. 167.8 crore; and

 

c. Approved and adopted the placement document dated 31 December 2016, in connection with the QIP.

d. Approved the issue of Confirmation of Allocation Notes ("CANs") to the qualified institutional buyers.

Powered by Capital Market - Live News