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Deep Industries raises Rs 63.84 crore through QIB

12 Dec 2016 Evaluate

Deep Industries has raised a total amount of Rs 63.84 crore through Qualified Institutional Buyers (QIB). The QIP Committee in their meeting held on December 9, 2016, have approved the issue and allotment of 28,00,000 equity shares of face value Rs 10  each to QIB at the issue price of Rs 228 per equity share.

The funds raised are intended to be utilized to meet long term working capital requirements and thereby business growth. The shares were subscribed by FIIs & FPIs. Post the fund raise, the total equity of the company increased to 3,20,00,000 equity shares of Face Value Rs 10 each and the promoter holding will now be at 63.95%.

Elara Capital (India) was the book running lead manager and Krishnamurthy & Co. was the domestic legal counsel to the Issue and Squire Patton Boggs Singapore LLP was the international legal counsel in relation to the selling and transfer restrictions.


Deep ene (Amalgamat) Share Price

310.05 0.00 (0.00%)
24-Sep-2024 16:01 View Price Chart
Peers
Company Name CMP
ONGC 279.25
Oil India 454.40
Jindal Drilling&Inds 535.85
Deep Industries 457.70
Asian Energy Service 297.85
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