KEI Industries launches QIP, floor price fixed at Rs 3,880.54
The floor price is at a discount of 3.5% over the stock’s closing price on Monday.
“We wish to inform you that pursuant to the approval accorded by the board of directors of the Company (the «Board»), at its meeting held on 15.10.2024 and the shareholders of the Company, pursuant to the special resolution passed on 17.11.2024, the Fund Raising Committee has, at its meeting held today i.e. 25.11.2024, inter alia, considered and approved the following resolutions: Approving the floor price for the Issue, being 3,880.54 per Equity Share (Floor Price), based on the pricing formula as prescribed under the SEBI ICDR Regulations,” said the company in an exchange filing.
The issue opened on Monday, November 25.
Earlier in the month of October, the company announced that it would raise funds up to Rs 2,000 crore through a QIP.
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