New Delhi: Tours and travel firm Cox & Kings has fixed the floor price at Rs 309.18 per equity share for raising funds through the qualified institutional placement (QIP) route to mop up Rs 1,200 crore.
The floor price in respect of the issue, based on the pricing formula as prescribed under SEBI regulations, is Rs 309.18 per equity share of the company, Cox & Kings said in a filing to the BSE.
The decision was taken at a meeting of the board held yesterday, it added.
"The Board also decided to allot 72.50 lakh warrants to Standford Trading Private Ltd, a promoter group entity, on preferential basis, subject to necessary approvals as may be required at a price that shall not be less than the QIP price, Cox & Kings said.
Earlier on October 9, the company announced its board had approved raising of funds not exceeding Rs 1,200 crore through issuance of securities including equity shares or equity linked securities, including the QIP route.
In an earlier filing to the BSE, the company said its promoter Peter Kerkar had expressed "irrevocable intent to subscribe to securities of the company" amounting to Rs 225 crore by one or more members of the promoter group.
Shares of Cox & Kings were today trading at Rs 302.70 per scrip in the afternoon trade on the BSE, down 4.13 per cent from its previous close.
