Money Matters Financial Services to close QIP

Money Matters Financial Services Ltd has announced that the Securities Issue & Allotment Committee duly authorized by the Board of Directors of the Company at its meeting held on October 15, 2010 has decided to close the proposed offer, issue and allotment of equity shares of face value Rs. 10/- each, ('Equity Shares"), pursuant to the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, ("ICDR Regulations"), to Qualified Institutional Buyers, (as defined in Regulation 2(1)(zd) of the ICDR Regulations), by Money Matters Financial Services Ltd., ('Company'), aggregating to Rs. 4450 million, ('Offering').

The Board approved the allocation of Equity Shares to eligible Qualified Institutional Buyers and approved the issue price of shares under Offering as Rs. 625.25 per share.

The Board also approved and adopted the Placement Document dated October 15, 2010.

The stock closed the day at Rs.699.10, up by Rs.11 or 1.60%. The stock hit an intraday high of Rs.707.40 and low of Rs.683.

The total traded quantity was 3.20 lakhs compared to 2 week average of 2.52 lakhs.

Source : Equity Bulls

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