NEW DELHI: Non-public sector lender Sure Financial institution on Friday accredited sale of securities value Rs 8,898 crore to world non-public fairness gamers Carlyle and Introduction teams.
The choice follows exit of the lender from the ‘Sure Financial institution Ltd Reconstruction Scheme, 2020′ final month.
At its assembly on Friday, the financial institution’s board determined to challenge over 369.61 crore fairness shares and 256.75 crore warrants. These securities might be issued on a preferential foundation for a complete consideration of Rs 8,898.47 crore, in accordance with a regulatory submitting.
The shares might be provided at Rs 13.78 apiece whereas the warrants exchangeable into fairness shares are to be issued at Rs 14.82 per piece. The face worth of those shares is Rs 2 apiece.
CA Basque Investments, a part of the Carlyle Group, and Verventa Holdings, an affiliate of funds managed by Introduction, might be provided little over 184.80 crore shares every at a value of Rs 13.78 apiece.
Likewise, they’ll get greater than 128.37 crore warrants every at a value of Rs 14.82.
The proposed sale of securities to the 2 entities is topic to regulatory approvals, together with from the Reserve Financial institution of India (RBI) and the Competitors Fee of India (CCI).
Shares of Sure Financial institution closed 2.47 per cent increased at Rs 14.94 apiece on BSE.
The choice follows exit of the lender from the ‘Sure Financial institution Ltd Reconstruction Scheme, 2020′ final month.
At its assembly on Friday, the financial institution’s board determined to challenge over 369.61 crore fairness shares and 256.75 crore warrants. These securities might be issued on a preferential foundation for a complete consideration of Rs 8,898.47 crore, in accordance with a regulatory submitting.
The shares might be provided at Rs 13.78 apiece whereas the warrants exchangeable into fairness shares are to be issued at Rs 14.82 per piece. The face worth of those shares is Rs 2 apiece.
CA Basque Investments, a part of the Carlyle Group, and Verventa Holdings, an affiliate of funds managed by Introduction, might be provided little over 184.80 crore shares every at a value of Rs 13.78 apiece.
Likewise, they’ll get greater than 128.37 crore warrants every at a value of Rs 14.82.
The proposed sale of securities to the 2 entities is topic to regulatory approvals, together with from the Reserve Financial institution of India (RBI) and the Competitors Fee of India (CCI).
Shares of Sure Financial institution closed 2.47 per cent increased at Rs 14.94 apiece on BSE.