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.
Company Name | CMP |
---|---|
ONGC | 284.05 |
Oil India | 668.60 |
Jindal Drilling&Inds | 631.80 |
Hind Oil Exploration | 192.20 |
Deep Industries | 280.15 |
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