Corporate earnings boost share performance amidst interest rate concerns funds-europe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from funds-europe.com Daily Mail and Mail on Sunday newspapers.
The company informed the bourses that it allocated 2,25,00,000 equity shares at Rs 360 per share on Tuesday to anchor investors. The public issue closes on February 23.
The floor price for the sale of these 7 million shares is ₹570 apiece and is expected to bring in over ₹400 crore for Verlinvest Asia. The floor price is at a discount of nearly 8% to Friday s closing price of ₹617.55 on the NSE. The shares ended over 3% higher on Friday.
Sula Vineyards shares dropped 8% as Verlinvest reportedly offloaded shares in a block deal. The vine maker is based in Nashik. Kotak Mahindra Capital acted as the broker for the deal. Other FII investors in the company include Jupiter India Fund, Goldman Sachs, and Abu Dhabi Investment Authority.