Vikas EcoTech has informed that in furtherance to company’s earlier intimation dated August 29, 2023 for opening of the QIP Issue (Qualified Institutions Placement), the Funds Raising Committee of the Company, at its meeting held today September 13, 2023, has approved the following: approved the closure of the Issue today (September 13, 2023) post receipt of application forms and the funds in the escrow account from the eligible qualified institutional buyers in accordance with the terms of the Issue; determined and approved, in accordance with the SEBI ICDR Regulations, the issue price at Rs 3.10 per Equity Share (including a premium of Rs 2.10 per Equity Share), floor price of Rs 2.95 per Equity Share (determined according to the formula prescribed under Regulation 176 of the SEBI ICDR Regulations and intimated in earlier communications), for the Equity Shares to be allotted to the eligible qualified institutional buyers in the present tranche; approved and finalized the Confirmation of Allocation Note (CAN) to be sent to eligible qualified institutional buyers, intimating them of the allocation of Equity Shares pursuant to the Issue; and approved and adopted the placement document dated September 13, 2023; and; allotment of 16,12,80,000 Equity Shares at the issue price to the eligible qualified institutional buyers in accordance with the terms of the issue, list of allottees shall be submitted through a separate communication.
The above information is a part of company’s filings submitted to BSE.
