IPP subscribed 1.8 times
Muthoot Finance announced that the Company has successfully concluded its Institutional Placement Program (IPP) as per the SEBI guidelines to comply with the regulatory norms for minimum share holding of 25%. The IPP offer was made the Qualified Institutional Buyers.Under the IPP, the Company offered fresh 25,351,062 equity shares of Rs 10 each. Issue opened and closed on 25 April 2014.
The price band of the issue was of Rs 155-165 per equity share.
The IPP was subscribed 1.8 times at the upper end of the price band for a total consideration of Rs 754.64 crore.
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