Unitech to raise Rs 2,789 cr
The Financial Express – Corporates & Markets, July 2, 2009, Page I
Real estate firm Unitech on Wednesday said it will raise over Rs 2,789 crore through private placement of shares to institutional investors at Rs 81 a piece. The board has approved the issuance of over 34.43 crore shares to qualified institutional buyers (QIB) at a price of Rs 81 a piece, aggregating to Rs 2,789.32 crore, Unitech said The company, which had raised Rs 1,621 crore in the second half of April at Rs 38.50 per share through the qualified institutional placement (QIP) route, launched the second round on Friday at Rs 81 per share. Following the first round of QIP, promoter's stake had come down to 51 per cent from about 64 per cent.
The Financial Express – Corporates & Markets, July 2, 2009, Page I
Real estate firm Unitech on Wednesday said it will raise over Rs 2,789 crore through private placement of shares to institutional investors at Rs 81 a piece. The board has approved the issuance of over 34.43 crore shares to qualified institutional buyers (QIB) at a price of Rs 81 a piece, aggregating to Rs 2,789.32 crore, Unitech said The company, which had raised Rs 1,621 crore in the second half of April at Rs 38.50 per share through the qualified institutional placement (QIP) route, launched the second round on Friday at Rs 81 per share. Following the first round of QIP, promoter's stake had come down to 51 per cent from about 64 per cent.
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