Macrotech Developers Limited fixes QIP price as Rs. 1170 per share

The meeting of the Committee for Fund Raise of the board of directors (the Committee) of Macrotech Developers Limited at its meeting held on November 18, 2021 in respect to Qualified institutions placement of equity shares of face value Rs 10 each (the Issue), has approved the closure of the issue period for the Issue today i.e. November 18, 2021.

The committee approved the allotment of 3,41,88,034 Equity Shares of face value Rs.10 each to eligible qualified institutional buyers at the issue price of Rs 1,170 per Equity Share (including a premium of Rs. 1,160 per Equity Share) against the floor price of Rs. 1,184.70 per Equity Share, aggregating to Rs 4,000 crore (Rupees Four thousand crore only), pursuant to the Issue.



The committee determined and approved the issue price of Rs 1,170 per Equity Share (including a premium of Rs 1,160 per Equity Share), which is at a discount of 1.24 % (i.e. Rs 14.70 per Equity Share) to the floor price of Rs 1,184.70 per Equity Share determined as per the formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations, for the Equity Shares to be allotted to the eligible qualified institutional buyers in the Issue.

The committee approved and finalised the confirmation of allocation note to be sent to the eligible qualified institutional buyers, intimating them of allocation of Equity Shares pursuant to the Issue and approved and adopted the placement document dated November 18, 2021 in connection with the Issue.

Shares of Macrotech Developers Limited was last trading in BSE at Rs. 1430.75 as compared to the previous close of Rs. 1415.60. The total number of shares traded during the day was 21933 in over 2085 trades.

The stock hit an intraday high of Rs. 1461.75 and intraday low of 1394.05. The net turnover during the day was Rs. 31277661.00.

Source : Equity Bulls

Keywords

MacrotechDevelopersLimited INE670K01029 LODHA Realty QIP FundRaising IssuePrice QIBs