Ashoka Buildcon Ltd opens QIP

The QIP Committee (the "Committee") of the Board of Directors of Ashoka Buildcon Ltd at its meeting held on April 13, 2015, has decided to open the Issue on April 13, 2015 to be undertaken in accordance with the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the "SEBI Regulations").

Further, the floor price in respect of the Issue, based on the pricing formula as prescribed under Regulation 85 of the SEBI Regulations is Rs 185.05 per equity share of the Company, and the 'relevant date' for this purpose, in terms of Regulation 81(c)(i) of the SEBI Regulations, is April 13, 2015.

The Company may offer a discount of maximum 5% from the SEBI Floor Price.

Shares of ASHOKA BUILDCON LTD. was last trading in BSE at Rs.188.2 as compared to the previous close of Rs. 188. The total number of shares traded during the day was 68258 in over 2073 trades.

The stock hit an intraday high of Rs. 189.6 and intraday low of 185. The net turnover during the day was Rs. 12811269.

Source : Equity Bulls

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