Muthoot Finance has dipped 4% to Rs 169 in an otherwise firm market after the company fixed price band of Rs 155-165 per share for its proposed share sale, which is at a discount to the prevailing share price.
The company is planning to issue up to 25.35 million equity shares of Rs 10 each to institutional investors though Institutional Placement Programme (IPP), Muthoot Finance said in a statement.
The issue would open for subscription on April 25, 2014 and close on April 25, 2014, it added.
The company has appointed ICICI Securities Limited, Kotak Mahindra Capital Company Ltd and Espirito Santo Securities India Pvt Ltd as the Book Running Lead Managers and Kotak Securities Ltd as syndicate members to the issue.
The stock opened at Rs 174 and hit a low of Rs 165 on the BSE. A combined 300,000 shares changed hands on the counter so far on the BSE and NSE.
The company is planning to issue up to 25.35 million equity shares of Rs 10 each to institutional investors though Institutional Placement Programme (IPP), Muthoot Finance said in a statement.
The issue would open for subscription on April 25, 2014 and close on April 25, 2014, it added.
The company has appointed ICICI Securities Limited, Kotak Mahindra Capital Company Ltd and Espirito Santo Securities India Pvt Ltd as the Book Running Lead Managers and Kotak Securities Ltd as syndicate members to the issue.
The stock opened at Rs 174 and hit a low of Rs 165 on the BSE. A combined 300,000 shares changed hands on the counter so far on the BSE and NSE.
