CreditAccess Grameen Limited closes QIP, places shares at Rs. 707 per share

The Capital Raising Committee of the board of directors (the "CRC Committee") of CreditAccess Grameen Limited at its meeting held on October 08, 2020 has, approved the closure of the issue period for the Issue today, i.e. October 8, 2020.

The committee has determined and approved the issue price of ₹ 707 per Equity Share (including a premium of ₹ 697 per Equity Share) which is at a discount of 0.1 % (i.e. ₹ 0.69 per Equity Share) to the floor price of ₹ 707.69 per Equity Share, determined as per the formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations, for the Equity Shares to be allotted to the eligible qualified institutional buyers in the Issue.

The committee approved and adopted the placement document dated October 08, 2020 and also approved and finalised the confirmation of allocation note to be sent to the eligible qualified institutional buyers, intimating them of allocation of Equity Shares pursuant to the Issue.

Shares of CreditAccess Grameen Ltd was last trading in BSE at Rs.724.5 as compared to the previous close of Rs. 737.15. The total number of shares traded during the day was 6887 in over 831 trades.

The stock hit an intraday high of Rs. 754.2 and intraday low of 715.55. The net turnover during the day was Rs. 5039296.

Source : Equity Bulls

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