The Fund Raise Committee of Info Edge (India) Limited has, at its meeting held today i.e. August 7, 2020, has declared the closure of the QIP today (i.e., August 7, 2020) pursuant to the receipt of applications from eligible qualified institutional buyers in accordance with the terms of the QIP. The QIP was opened on August 4, 2020.
The QIP committee determined and approved the issue price for 60,67,961 Equity Shares to be allotted to eligible qualified institutional buyers at a price of ₹3,090 per Equity Share (including a share premium of ₹3,080 per Equity Share), which includes a discount of 2.74% (i.e. ₹87.18 per Equity Share), to the floor price of ₹3,177.18 per Equity Share, calculated in accordance with the formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations.
The committee also approved the issuance of confirmation of allocation notes to successful bidders in the QIP, intimating them of allocation of Equity Shares pursuant to the QIP; and approved the placement document dated August 7, 2020 in connection with the QIP.
Shares of INFO EDGE (INDIA) LTD. was last trading in BSE at Rs.3323 as compared to the previous close of Rs. 3321.05. The total number of shares traded during the day was 4925 in over 945 trades.
The stock hit an intraday high of Rs. 3390 and intraday low of 3275.6. The net turnover during the day was Rs. 16329186.