Pratibha Industries to issue 24 Lakh Shares at Rs 253

Pratibha Industries has announced with reference to Qualified Institutional Placement of Equity Shares to Qualified Institutional Buyers in accordance with Chapter XIII-A of SEBI (DIP) Guidelines, the Board of Directors has approved the issue of 24,00,000 (Twenty Four Lacs) equity shares of Rs 10/- each pursuant to Chapter XIII-A of the Securities & Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 (the "SEBI Guidelines") at the issue price of Rs 253 per equity share aggregating to an issue of Rs 607.2 million (INR Six Hundred Seven Million & Two Hundred Thousand Only). The issue Price is above the floor price calculated in accordance with the SEBI Guidelines.

Further, the Board of Directors of the Company at its meeting held on December 19, 2007, has allotted 24,00,000 equity shares of Rs 10/- each at a premium of Rs 243/- per equity share to the Qualified Institutional Buyers under Chapter XIIIA of the SEBI Guidelines.

Centrum Capital Ltd acted as the Sole Book Runner for this Issue. Tower Capital Advisors Pvt Ltd & Cipher Capital Advisors Pvt Ltd acted as advisor for this issue.

Source : Equity Bulls

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