Tree House Education & Accessories Ltd approves QIP document

Subsequent to the approval accorded by the Board of Directors of Tree House Education & Accessories Ltd, at its meeting held on November 14, 2014 and the approval of the shareholders of the Company by way of a special resolution dated December 11, 2014 for the QIP, the Capital Raising Committee (QIP Committee) of the Company has, at its meeting held on December 15, 2014 passed resolutions in connection with the QIP issue.

The Board approved and adopted the preliminary placement document dated December 15, 2014, in connection with the QIP, (the "Preliminary Placement Document"). The Board also authorized the opening of the QIP on December 15, 2014.

Further, the ‘Relevant Date' for this purpose, in terms of Regulation 81(c)(i) of the SEBI Regulations, is December 15, 2014 and accordingly the floor price in respect of the aforesaid QIP, based on the pricing formula as prescribed under Regulation 85(1) of the SEBI Regulations is Rs. 455.58 per Equity Share. The Company may at its discretion offer a discount of up to 5% on the floor price in the QIP.

Shares of TREE HOUSE EDUCATION & ACCESSORIES LTD. was last trading in BSE at Rs.463 as compared to the previous close of Rs. 454.9. The total number of shares traded during the day was 24489 in over 850 trades.

The stock hit an intraday high of Rs. 468.95 and intraday low of 455. The net turnover during the day was Rs. 11222155.

Source : Equity Bulls

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