February 27, 2018 / 12:20 PM / 6 months ago

BRIEF-IBL Agrees To Underwrite Current Rights Issue Of Bluelife Ltd Up To Maximum Of 400 Mln Rupees

Feb 27 (Reuters) - IBL Ltd:

* AGREED TO UNDERWRITE THE CURRENT RIGHTS ISSUE OF BLUELIFE LIMITED (‘BLL’) UP TO A MAXIMUM OF 400 MILLION RUPEES

* ON 23 FEB, FOLLOWING CLOSING OF RIGHTS ISSUE, IBL HAS BEEN NOTIFIED BY BLL THAT 170.4 MILLION UNSUBSCRIBED SHARES HAVE BEEN ALLOTTED TO IBL‍​

* IBL TO MAKE MANDATORY OFFER TO BUY VOTING SHARES OF BLL NOT ALREADY HELD BY IBL (THE ‘MINORITY SHARES’), AT A PRICE OF RS. 2.24 PER SHARE‍​ Source: bit.ly/2EYC35E Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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