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Mercator announced that in respect of the QIP Offering, the QIP Committee (the "Committee") of the Company has at its meeting held on 17 January 2017, inter alia approved the following:
1. Closure of the Bid on 17 January 2017;
2. The issue price of Rs. 40.75, after giving discount of 4.79% i.e. Rs. 2.05 per Equity Share, on the Floor Price of Rs. 42.80 per Equity Share within the SEBIICDR Regulations and shareholders' approval vide an annual general meeting held on 30 June 2016, for the Equity Shares to be issued and allotted to eligible Qualified Institutional Buyers in the QIP; and
3. Adoption of the Placement Document dated 17 January 2017 in connection with the QIP.
4. Issue of Confirmation Allocation Note for the allocation of 2,50,00,000 Equity Shares to the Qualified Institutional Buyers.
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