ICICI Securities Limited ("I-Sec") has announced the successful closure of the Rights Issue of Gateway Distriparks Limited ('GDL'). GDL is one of India's largest integrated inter-modal logistics service providers.
Highlights of the Transaction:
- The Company will use the proceeds of the fund raise to deleverage its Balance sheet
- I-Sec was appointed as the Sole Banker and successfully coordinated the requisite SEBI / Stock Exchange documentation and secured permissions within intended timelines (fast track mode)
- The transaction was a Rights Issue of fully paid-up equity shares (in the ratio of 4:27) to raise an amount aggregating to INR 1,159.76 million
- I-Sec worked closely with the GDL team and played a key role in formulating a suitable marketing strategy to reach out to institutional and non-institutional investors, despite the nation-wide lockdown due to covid-19 pandemic
- I-Sec secured early investor feedback to help structure the product and pricing
- I-Sec worked very closely with all the large institutional investors for a seamless transaction. The Investors include Amansa Holdings, ICICI Prudential MF, Mirae MF, Eastspring Investments, Schroder, etc.
- Due to its strong domain knowledge, I-Sec was able to generate strong interest amongst shareholders leading to an oversubscription of 1.24x.
- I-Sec comprehensively marketed the issue through its ICICI Direct online portal to its retail customers using various latest digital marketing tools to generate the desired investor traction, procuring 23% of total retail applications
With this deal completion, ICICI Securities continues to demonstrate its ability to guide its clients through unprecedented times and successfully conclude transactions in a challenging market environment.
Shares of ICICI Securities Ltd was last trading in BSE at Rs.485.8 as compared to the previous close of Rs. 467.7. The total number of shares traded during the day was 35674 in over 1588 trades.
The stock hit an intraday high of Rs. 487.85 and intraday low of 471.25. The net turnover during the day was Rs. 17243187.
Shares of GATEWAY DISTRIPARKS LTD. was last trading in BSE at Rs.92.55 as compared to the previous close of Rs. 93.85. The total number of shares traded during the day was 29830 in over 544 trades.
The stock hit an intraday high of Rs. 96.3 and intraday low of 92.3. The net turnover during the day was Rs. 2824256.