Mercator Ltd announces closure of QIP

In respect of the QIP Offering, the QIP Committee (the "Committee") of Mercator Ltd has at its meeting held on January 17, 2017, have approved the closure of the Bid on January 17, 2017.

The committee approved the issue price of Rs. 40,75, after giving discount of 4.79% i.e. Rs. 2.05 per Equity Share, on the Floor Price of Rs. 42.80 per Equity Share within the SEBIICDR Regulations and shareholders' approval vide an annual general meeting held on June 30, 2016, for the Equity Shares to be issued and allotted to eligible Qualified Institutional Buyers in the QIP and adopted the Placement Document dated January 17,2017 in connection with the QIP.

The Committee also approved issue of Confirmation Allocation Note for the allocation of 2,50,00,000 Equity Shares to the Qualified Institutional Buyers.

Shares of MERCATOR LTD. was last trading in BSE at Rs.44.3 as compared to the previous close of Rs. 44.6. The total number of shares traded during the day was 134637 in over 737 trades.

The stock hit an intraday high of Rs. 45.25 and intraday low of 44.15. The net turnover during the day was Rs. 6020868.

Source : Equity Bulls

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