Ashiana Housing updates on QIP issue

Floor price for QIP is Rs 222.02; Issue price is Rs 215

Ashiana Housing announced that in respect of the Qualified Institutions Placement, the Committee of the Board has, at its meeting held 05 February 2015, inter alia, passed the following resolutions:

1. declaring the closure of the Qualified Institutions Placement on 05 February 2015;

2. determining and approving the issue price of Rs. 215 per Equity Share for issuance and allocation of upto 9,302,324 Equity Shares, to eligible qualified institutional buyers in the Qualified Institutions Placement, aggregating to Rs. 1,99,99,99,660 (including Rs. 1,98,13,95,012 towards share premium). The Company have offered a discount of up to Rs. 7.02 to the Floor Price of Rs. 222.02 in accordance with the proviso to Regulation 85(1) of the SEBI Regulations; and

3. approving and adopting the placement document dated 05 February 2015, in connection with the Qualified Institutions Placement (the "Placement Document").

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