Pentafour offers preferential at Rs 700 per share

MUMBAI, FEB 15: Pentafour Software and Exports has placed 29.30 lakh equity shares of Rs 10 each at Rs 700 per share on a preferential allotment basis aggregating to Rs 205 crore, much above the Sebi price guidelines. The average price, in accordance with the Sebi guidelines, works out to Rs 657. Morgan Grenfell has picked up about six lakh shares in Pentafour Software amp; Exports Ltd at a price of Rs 700 per share. The base price as per SEBI guidelines was Rs 657 per share. According to CMD, V Chandrasekaran, other investors for whom the company had allotted the 29.30 lakh shares in a preferential manner include UTI, Canbank Mutual Fund, GIC, Bank of India, Punjab National Bank, Prudential ICICI, Alliance Capital in the FI/mutual fund category and Sethia London and Far East Investment Corporation, Singapore in theOBC category.