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Mahindra Holidays & Resorts India board has fixed the price band for institutional placement programme at Rs 255 per share.
The Institutional Placement Programme issue committee of the board has finalised the price at Rs 255 per equity share to be issued to qualified institutional buyers, the company said in a filing to the BSE today.
The company had said in an earlier filing that in accordance with the conditions stipulated in the SEBI letter dated February 28, 2013, the number of allottees in the issue may be less than 10, subject to compliance with the requirements of the provisions of Regulation 87(1) of the SEBI Regulations.
Earlier, the committee had fixed the price band at Rs 255-265 per share for the proposed issue of over 41 lakh shares to QIBs.
The company scrip was trading at Rs 259.15 per scrip in the afternoon trade on BSE, down 1.73 per cent from their previous close.
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