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| Exchange Disseminated Time 14/09/2016 07:54:12 | Motherson Sumi Systems Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 13, 2016, inter alia, has approved the following:
1. Closure of the bid September 13, 2016;
2. The Placement Document via resolution passed by the Board of the Company and other incidental activities on the subject matter;
3. The issue price of Rs. 317/- per share (including premium of Rs. 316/- per share), after giving discount of 2.79%, i.e. Rs. 9.10 per equity share of the Company at face value of Re. 1 each (“Equity Share”) to the floor price of Rs. 326.10 per Equity Share as per the SEBI ICDR Regulations, for the Equity Shares to be issued and allotted to eligible Qualified Institutional Buyers in the QIP Offering; and for
4. Approval for the issue of Confirmation Allocation Note for the allocation of 62,884,827 Equity Shares the Qualified Institutional Buyers. |
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