IDFC Ltd fixes floor price of Rs. 137 for QIP

The Capital Raise Committee of the Board of Directors of IDFC Ltd (the "Committee") has, by a resolution dated September 12, 2014, fixed the Issue Closing Date for the qualified institutions placement as being September 12, 2014.

The Committee has also passed necessary resolutions approving the issuance of 7,30,00,000 Equity Shares at a price of Rs. 137 per Equity Share (the "Issue Price") (including a premium of Rs. 127 per Equity Share), aggregating to Rs. 1,000.10 crore, to Qualified Institutional Buyers, pursuant to Chapter VIII of the SEBI ICDR Regulations and that, pursuant to shareholders approval received on July 29, 2014 permitting a discount to the floor price, the Issue Price shall be fixed at a price of Rs. 137 per Equity Share. Further, the Committee has also passed necessary resolutions and approving the Placement Document in this regard.

Shares of IDFC LIMITED was last trading in BSE at Rs.149.05 as compared to the previous close of Rs. 150.05. The total number of shares traded during the day was 1122489 in over 11889 trades.

The stock hit an intraday high of Rs. 151.6 and intraday low of 147.85. The net turnover during the day was Rs. 167699504.

Source : Equity Bulls

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