"Normally QIPs happen at the floor price set by Sebi but we raised it at the market price on that date and it got oversubscribed," company's MD Ramesh Iyer told PTI. The market regulator had set a floor price of Rs 880.70 per share. The company scrip today touched a new high of Rs 995.15 a piece on the BSE, whose 30-share Sensex closed 164 points down.
Iyer said the capital influsion, which takes the Tier-I capital adequacy to over 20 per cent from the earlier 14 per cent, will suffice the company for the next two years. The promoter holding in the company also gets reduced to 51.2 per cent post-issue from the earlier levels of over 56 per cent, Iyer said, adding the Mahindras are fine with this level of holding.
The firm, which is primarily into lending for M&M vehicles and tractors, posted a loan growth of 35 per cent till September and Iyer said it is not revising its targets. The issue, advised by Kotak Mahindra Capital, JM Financial Institutional Securities, Citigroup, Deutsche Equities and HSBC Securities and Capital Markets, got response from around the globe with investors from the US, Britain and Asia apart from India getting the allotments, Iyer said.
The QIP was one of the few successful issues in recent times and is expected to be followed up by similar offerings from Apollo Tyres and IndusInd Bank.
Anda sedang membaca artikel tentang
Mahindra Financial Services raises Rs 867 cr via QIP
Dengan url
http://kebugaranhidup.blogspot.com/2012/11/mahindra-financial-services-raises-rs.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Mahindra Financial Services raises Rs 867 cr via QIP
namun jangan lupa untuk meletakkan link
Mahindra Financial Services raises Rs 867 cr via QIP
sebagai sumbernya
0 komentar:
Posting Komentar