Posts
![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-inr-small.gif)
THE US-BASED foreign institutional investor Morgan Stanley has bought a 5.1% equity stake in realty major Unitech for Rs 400 crore through the QIP route. Unitech has placed 10.4 crore shares with the fund, subsequent to which the latter holds a 5.2% stake in the former, according to disclosures filed with the Bombay Stock Exchange (BSE). Before the placement, Morgan Stanley was holding 19.4 lakh shares, or 0.1%, in the Delhi-based company.
Unitech has allotted a total of 42.1 crore shares at Rs 38.5 per share, including premium of Rs 36.5, to 44 qualified institutional buyers, raising Rs 1,621 crore to repay part of its debt. The shares have been allotted under the recently-closed QIP issue, which according to merchant banking sources, was subscribed more than two times. SSKI was appointed as the main bookrunning lead manager for the issue.
On Tuesday, Unitech shares closed 2% down at Rs 43 on BSE, 12% higher than the QIP price. The stock has risen 20% in the past one month, though it is still quoting at a sharp discount to the peak of Rs 338 recorded on May 5, 2008.
The placement would substantially dilute promoters' stake in Unitech. According to the company's shareholding data available as on March 31, 2009, promoters held a 64.5% stake, while foreign institutional investors owned a 8.2% equity. Bodies corporate and the public held 11% and 13%, respectively, in the company.
Unitech has allotted a total of 42.1 crore shares at Rs 38.5 per share, including premium of Rs 36.5, to 44 qualified institutional buyers, raising Rs 1,621 crore to repay part of its debt. The shares have been allotted under the recently-closed QIP issue, which according to merchant banking sources, was subscribed more than two times. SSKI was appointed as the main bookrunning lead manager for the issue.
On Tuesday, Unitech shares closed 2% down at Rs 43 on BSE, 12% higher than the QIP price. The stock has risen 20% in the past one month, though it is still quoting at a sharp discount to the peak of Rs 338 recorded on May 5, 2008.
The placement would substantially dilute promoters' stake in Unitech. According to the company's shareholding data available as on March 31, 2009, promoters held a 64.5% stake, while foreign institutional investors owned a 8.2% equity. Bodies corporate and the public held 11% and 13%, respectively, in the company.
http://ways2trade.blogspot.com
Free SMS Calls on India Stock Market
DisasterAwareness | Health | Commodities
Chat: 
Y! messenger: wilint 
Google Talk: ways2invest 
MSN: akbar_jiwani
Y! messenger: wilint Google Talk: ways2invest MSN: akbar_jiwaniContact Me: 
0 comments:
Post a Comment