Dhanlaxmi Bank Ltd closes QIP issue

In respect of issue of Equity Shares of up to Rs. 700 million to QIBs through a qualified institutions placement in terms of Chapter VIII of ICDR Regulations ("Issue"), the Equity Issuance Committee of the Board of Dhanlaxmi Bank Ltd has, at its meeting held on April 03, 2013, decided to close the bid period, at a price of Rs. 46.50 per Equity Share for issuance of up to 15,023,300 Equity Shares.

The floor price in respect of the Issue, based on the pricing formula under Regulation 85(1) of the ICDR Regulations with a discount of 0.94% on the floor price in terms of the proviso to Regulation 85(1) of the ICDR Regulation, was Rs. 46.50 per Equity share, and the 'relevant date' for this purpose, in terms of Regulation 81(c) of the ICDR Regulations, was April 02,2013.

Shares of Dhanlaxmi Bank Ltd last traded in BSE at Rs.47.50, down by Rs.1.15 or 2.36%. The stock hit an intraday high of Rs.48.50 and low of Rs.47.05.

The total traded quantity was 1.60 lakhs compared to 2 week average of 1.46 lakhs.

Source : Equity Bulls

Keywords