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Vikas Ecotech approves closure of QIP issue, finalises shares allotment

According to Vikas Ecotech's exchange filing, the committee determined and approved, in accordance with the SEBI ICDR Regulations, the issue price at Rs 2.80 per equity share (including a premium of Rs 1.80 per equity share), which is at a discount of Rs 0.12 per equity share i.e. 4 per cent to the floor price of Rs 2.92 per equity share to be allotted to the eligible qualified institutional buyers in the present tranche.
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Authored by: ET Now Digital

Updated Jun 13, 2023 | 12:59 PM IST

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Vikas Ecotech has informed that the company's Funds Raising Committee on Monday approved the closure of the issue post receipt of application forms and the funds in the escrow account from the eligible qualified institutional buyers (QIBs) in accordance with the terms of the Issue.

Vikas Ecotech has informed that the company's Funds Raising Committee on Monday approved the closure of the issue post receipt of application forms and the funds in the escrow account from the eligible qualified institutional buyers (QIBs) in accordance with the terms of the Issue.

Vikas Ecotech has informed that the company's Funds Raising Committee on Monday approved the closure of the issue post receipt of application forms and the funds in the escrow account from the eligible qualified institutional buyers (QIBs) in accordance with the terms of the Issue.
According to Vikas Ecotech's exchange filing, the committee determined and approved, in accordance with the SEBI ICDR Regulations, the issue price at Rs 2.80 per equity share (including a premium of Rs 1.80 per equity share), which is at a discount of Rs 0.12 per equity share i.e. 4 per cent to the floor price of Rs 2.92 per equity share to be allotted to the eligible qualified institutional buyers in the present tranche.
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"The committee also approved and finalized the Confirmation of Allocation Note (“CAN”) to be sent to eligible qualified institutional buyers, intimating them of the allocation of equity shares pursuant to the issue," as per exchange filing.
The committee approved the allotment of 17,85,00,000 equity shares at the issue price to the eligible qualified institutional buyers in accordance with the terms of the issue.
The list of allottees who have been allotted more than 5 per cent of the equity shares offered in the issue are AG Dynamic Funds Limited, Vikasa Global Fund PCC- Eubilia Capital Partners Fund I and Calypso Global Investment Fund.
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