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Navkar Corporation announced that in respect of the QIP, the Securities Committee of the Board of Directors of the Company in its meeting held on 30 October 2017 has, inter alia:
A) Approved the closure of the issue period for the QIP on 30 October 2017.
B) Determined and approved the issue price of Rs.183 per Equity Share, (including premium of Rs.173 per Equity Share), which is at a discount of 4.83 % (i.e. Rs.9.29 per Equity Share), to the Floor Price of Rs.192.29 per Equity Share for the issuance and allocation of 7,911,158 Equity Shares to be allotted to eligible qualified institutional buyers pursuant to the QIP aggregating upto Rs.144.77 crore.
C) Approved and adopted the Placement Document dated 30 October 2017 in connection with the QIP.
D) Approved the issue of Confirmation of Allocation Notes ('CANs) to the qualified institutional buyers.
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