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Mahindra And Mahindra Ltd's Mahindra Finance Completes QIP Issue-Business Standard


Monday, 12 Nov 2012 09:53am EST 

Business Standard reported that Mahindra Finance- non banking financial company of Mahindra And Mahindra Ltd raised INR866.80 crore (INR8.668 billion) through its Qualified Institutions Placement (QIP) issue and. The Company had secured the mandate from its board to raise up to INR925 crore (INR9.25 billion). In a notice given to the bourses, company said that 9,750,257 equity shares of face value INR10 were allotted to the institutional buyers at an issue price of INR889 per share. The Company had set a floor price of INR880.70 for the issue. Bankers to the issue were Kotak Securities, Citi, JM Financial, HSBC and Deutsche Bank. 

Company Quote

997.35
22.0 +2.26%
17 Apr 2014