Hemas Rs. 1 b debenture issue draws Rs. 4.5 b demand
Tuesday, 29 April 2014 00:00
-
- {{hitsCtrl.values.hits}}
Hemas Holdings PLC’s (HHL) maiden debenture issue of Rs. 1 billion had drawn heavy demand with subscriptions worth Rs. 4.5 billion received at the time of oversubscription.
The company said its oversubscribed issue of 10 million Rated, Unsecured, Redeemable Debentures at Rs. 100 each, (5 million in the first tranche and an equal amount in the event of oversubscription of the original amount), received 119 applications applying for 44.8 million debentures amounting to Rs. 4.5 billion through cheques, RTGS transfers, and guarantees.
HHL also announced the basis of allotment for the debenture issue.
Identified Institutional Investors as per Section 6.8 of the Prospectus dated 8 April 2014 up to and inclusive of 250,00 Debentures: 100% of Debentures Applied.
Above 250,000 Debentures: A minimum allotment of 250,000 Debentures plus 25.3% of the balance amount of Debentures applied rounded to the nearest 100 Debentures
Other investors: Up to and inclusive of 250,000 Debentures - 100% of Debentures Applied.
Above 250,000 Debentures: A minimum allotment of 25,000 Debentures plus 10.1% of the balance amount of Debentures applied rounded to the nearest 100 Debentures.
