Sadbhav Engineering Ltd closes QIP

The QIP Committee (the "Committee") of the Board of Directors of Sadbhav Engineering Ltd at its meeting held on October 17, 2014 has decided to close the Issue and has accorded its consent for the issue of up to 1,15,74,000 Equity Shares at a price of Rs. 216/-, for an aggregate value of Rs. 2,49,99,84,000/- (including Rs. 248,84,10,000/- towards share premium) at a discount of Rs. 3.0625 per Equity Share to the floor price of Rs. 219.0625 per Equity Share, in accordance with the terms and conditions of the placement document dated October 17, 2014 and the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended.

Shares of SADBHAV ENGINEERING LTD. was last trading in BSE at Rs.213.1 as compared to the previous close of Rs. 212.05. The total number of shares traded during the day was 4241 in over 400 trades.

The stock hit an intraday high of Rs. 214.5 and intraday low of 212.75. The net turnover during the day was Rs. 904559.

Source : Equity Bulls

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