Ashok Leyland raises over Rs 666 cr via QIP issue
03/07/2014 10:05
Hinduja Group flagship company Ashok Leyland has raised over Rs 666 crore through allotment of shares at a price of Rs 36 apiece to institutional investors. The company in a filing to the BSE said that its fund raising committee has “approved the issue price of Rs.36 per equity share, which is at a premium of Rs.1.70 per share, to the Floor Price of Rs.34.30 per equity share.” The committee also approved closure of the qualified institutional placement (QIP) on 2 July 2014, the filing said. The QIP issue of 185.2 million equity shares of face value of Rs.1 each had opened on 26 June. The fund raising committee of the company had fixed the floor price at Rs.34.30 apiece. Ashok Leyland’s board had approved the fund raising on 10 May 2013 and had got shareholders approval on 16 July 2013.
03/07/2014 10:05
Hinduja Group flagship company Ashok Leyland has raised over Rs 666 crore through allotment of shares at a price of Rs 36 apiece to institutional investors. The company in a filing to the BSE said that its fund raising committee has “approved the issue price of Rs.36 per equity share, which is at a premium of Rs.1.70 per share, to the Floor Price of Rs.34.30 per equity share.” The committee also approved closure of the qualified institutional placement (QIP) on 2 July 2014, the filing said. The QIP issue of 185.2 million equity shares of face value of Rs.1 each had opened on 26 June. The fund raising committee of the company had fixed the floor price at Rs.34.30 apiece. Ashok Leyland’s board had approved the fund raising on 10 May 2013 and had got shareholders approval on 16 July 2013.
