IDFC Ltd to issue shares worth Rs. 2000 crores to QIBs

Subsequent to the approval accorded by the shareholders of IDFC Ltd under Section 62(1 )(c) and other applicable provisions of the Companies Act, 2013, on July 29, 2014 to issue and allot equity shares for an amount aggregating up to Rs. 2,000 crore, to Qualified Institutional Buyers ("QIBs"), the duly authorized Committee of the Board of Directors of the Company has, decided to make an issuance of equity shares of face value Rs. 10/- each of the Company, to QIBs under the said Placement and for this purpose, to open the issue.

The Company has further inform that the floor price in respect of the aforesaid Placement, based on the pricing formula as prescribed under Regulation 85 of the SEBI Regulations is Rs. 143.70 per equity share, and the relevant date for this purpose, in terms of Regulation 81(c) of the SEBI Regulations, is September 10, 2014.

Shares of IDFC LIMITED was last trading in BSE at Rs.144.95 as compared to the previous close of Rs. 142. The total number of shares traded during the day was 1317458 in over 14368 trades.

The stock hit an intraday high of Rs. 146.95 and intraday low of 140.9. The net turnover during the day was Rs. 190850097.

Source : Equity Bulls

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