Manpasand Beverages Ltd approves QIP document

Subsequent to the approval accorded by the Board of Directors of Manpasand Beverages Ltd, at its meeting held on August 10, 2016 and approval of the shareholders of the Company by way of a special resolution dated September 05, 2016 for the QIP, the QIP Committee of the Company has, at its meeting held on September 27. 2016. approved and adopted the preliminary placement document dated September 27, 2016. in connection with the QIP (the "Preliminary Placement Document").

The committee also authorized the opening of the QIP on September 27, 2016.

Further, the 'Relevant Date' for this purpose, in terms of Regulation 81(c)(i) of the SEB1 Regulations, is September 27, 2016 and accordingly the floor price in respect of the aforesaid QIP. based on the pricing formula as prescribed under Regulation 85(1) of the SEBI Regulations is Rs. 716.09 per Equity Share. The Company may at its discretion offer a discount of up to 5% on the floor price in the QIP.

Further, a meeting of QIP Committee of the Company is scheduled to be held on September 30, 2016. to consider and determine the price for Equity Shares of the Company to be issued in the QIP. in accordance with Chapter VIII and other applicable provisions of the SEBI Regulations and Section 42 of the Companies Act, 2013 read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014.

Source : Equity Bulls

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