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| Exchange Disseminated Time | Prime Securities Ltd has announced the allotment of 1.87 MM Equity Shares and 200,000 Equity Share Warrants, carrying an entitlement to apply for equivalent number of Equity Shares, on a preferential basis to New Vernon Private Equity Ltd and ICG Q Ltd at a price of Rs 275/- per share aggregating Rs 569 MM.
New Vernon Private Equity Ltd (NVPEL), is a Mauritius limited Company making private equity investments, primarily in India, for the New Vernon India Fund.
ICG Q Ltd is a fully owned subsidiary of India Capital Growth Fund Ltd (ICGF) a closed-ended broad based investment Company registered and incorporated in Guernsey. ICGF is listed on the AIM market of the London Stock Exchange.
The funds raised from the above issue would be utilised for meeting the enhanced business needs of the Company and its subsidiaries in terms of expanding premises, enhancing personnel and meeting additional working capital requirements in the broking business. |
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