Subsidiary Closing of QIP

RNS Number : 5147C

KSK Power Ventur PLC

13 November 2009

 



For immediate release

13 November 2009

KSK Power Ventur plc

("KSKPV")

Indian subsidiary closing of Qualified Institutions Placement in India

KSK Power Ventur plc (AIM: KSK.L)("KSKPV"), is pleased to announce that further to the announcement on 10 November 2009 concerning the Qualified Institutions Placement in India by it subsidiary, KSK Energy Ventures Limited ("KSKEV"), the following notice of the bid closing and pricing has been filed with the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited, aggregating Rs.5,159.25m (approximately US $110m). 

"BID CLOSING AND PRICING

The QIP Committee of the Board of Directors of KSK Energy Ventures Limited has closed the bids and approved an issue price of Rs.194.50 (including a premium of Rs.184.50) per Equity Share in connection with the proposed issue and allotment of up to 2,65,25,714 Equity Shares aggregating to Rs.5,159.25 million under Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended."

For further information please contact:

KSK Power Ventur plc	[phone]
S. Kishore
Arden Partners plc	[phone]
Richard Day / Adrian Trimmings
Buchanan Communications	[phone]
Mark Edwards / Nicola Cronk

 

END

 

 

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