DELTA CORP LTD. - Outcome of Committee Meeting

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DELTA CORP LTD. - Outcome of Committee Meeting

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11 May 2017
The [QIP Committee] (the 'Committee') of the board of directors of the Company at its meeting held earlier today passed the following resolutions: - Approved undertaking the issuance of - equity shares by way of a qualified institutions placement in accordance with the provisions of the ICDR Regulations and the Companies Act, 2013, including the rules thereunder, pursuant to the approval of, and authority delegated by, the Board of Directors by way of its resolution dated 22nd March, 2017, and the approval of the shareholders of the Bank by way of their resolution dated 18th April, 2017; - Approved and declared the opening of the Issue today, i.e., on 11th May, 2017; - Approved and adopted the preliminary placement document dated 11th May, 2017, in connection with the Issue, (the "Preliminary Placement Document"); - Approved and taken on record the floor price in respect of the Issue, based on the pricing formula as prescribed under Regulation 85 of the ICDR Regulations being, Rs. 162.78 per Equity Share; and - Approved and taken on record, the relevant date' for this purpose, in terms of Regulation 81(c)(i) of the ICDR Regulations, which is 11th May, 2017. - Approved and offered a discount of up to 5% on the floor price of the Equity Shares in the Issue in accordance with the applicable laws. In addition to the above, please note that a meeting of the Committee is scheduled to be held on 16th May, 2017 to, amongst other things, consider and determine the issue price of the Equity Shares proposed to be issued by way of the Issue to qualified institutional buyers. The meeting of the Committee commenced at 03.45 pm and the meeting was concluded at 04.15 pm. We request you to kindly take the above on record and treat the same as compliance with the applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
View all announcements for DELTA CORP LTD.	Source: BSE India

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