MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. - Outcome of Committee Meeting
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| 07 Dec 2017 | |
| We wish to inform you that the Securities Issue Committee of the Board of the Directors of the Company at its Meeting held today i.e., 7th December, 2017 has approved the allotment of 2,40,00,000 Equity Shares of the face value of Rs. 2 each to Qualified Institutional Buyers under the Qualified Institutions Placement at the Issue Price of Rs.440 per Equity Share (including a premium of Rs. 438 per Equity Share), aggregating to Rs.1,056 crores.<BR> <BR> As informed earlier, the QIP opened on 30th November, 2017 and closed on 5th December, 2017.<BR> <BR> Pursuant to this allotment, the paid-up share capital of the Company stands increased from 59,37,64,960 Equity Shares to 61,77,64,960 Equity Shares.<BR> <BR> As a consequence of the increase in the paid-up capital of the Company, the percentage shareholding of Mahindra & Mahindra Limited, the holding company ('the Promoter') stands reduced from 53.25% to 51.19%. <BR> | |
| View all announcements for MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. | Source: BSE India |
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