Expansion Time

It’s expansion time at Marico! After SEBI recently gave a green signal to the Qualified Institutional Placement (QIP) route of raising funds, the FMCG major has quickly hopped on to this route to finance its latest acquisition plans. Marico, has raised Rs.1.5 billion through the issue of 2.9million fresh equity share on private placement. Pricing its offering at Rs.522 per share, the company is the first to raise equity through the QIP route. The issue, which opened on November 30, was over subscribed3.4 times. Kotak Investment Banking and Citigroup Global Markets were the joint global coordinators and joint book runners.

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Source : IIPM Editorial, 2006

An IIPM and Management Guru Professor Arindam Chaudhuri's Initiative