*Mandhana Industries Ltd* has raised Rs 15 Cr from anchor investors. *IDFC Small and Midcap Equity Fund* bought 7,69,250 shares and *India Diversified (Mauritius) Ltd* bought 3,84,600 shares. The shares were bought at Rs 130 per share.
*Edelweiss Capital Ltd* and *Axis Bank Ltd* are the lead managers to the issue. Transaction Note Earlier in Dec'09, Mauritius based VC investor - Structured Investments Ltd exited from its investment in Mandhana Industries Ltd by selling its entire stake to the promoters of the company. SIL held 5,30,280 shares in Mandhana out of which 2,50,000 were acquired by it through preferential allotment in Feb 08 for a consideration of Rs. 7.44 cr (Rs 298 per piece, including a premium of Rs. 288). Also, 15,140 shares were purchased from a vendor of Mandhana for a consideration of around 45 lakhs. Mandhana Industries issued a bonus of 1:1 in August 09, which took SIL's stake in the company to 5,30,280 shares. According to the shareholder's agreement, if Mandhana failed to list itself on BSE within 12 months from the date of allotment, SIL would have the right to call upon the promoters to purchase all the shares held by it.The SHA stipulates that the company/promoters would have to buy back these shares at an IRR of 25%. By that measure, the value of the shares as on March 19, 2010 would be around Rs. 233 per post- bonus share. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
