Ashoka Buildcon approves QIP allotment

In respect of the QIP, the QIP Committee (the "Committee") of Ashoka Buildcon Ltd has at its meeting held on April 20, 2015, approved the Issue Price of Rs. 175.80, after giving discount of upto 5% i.e. Rs. 9.25 per Equity Share, to the Floor Price of Rs. 185.05 per Equity Share as per the SEBI ICDR Regulations and shareholders' approval, for the Equity Shares to be issued and allotted to eligible Qualified Institutional Buyers in the QIP.

The Board also approved the issue of Confirmation Allocation Note for the allocation of 2,84,41,411 Equity Shares to the Qualified Institutional Buyers amounting to approximately Rs. 500.00 Crores.

The Board also approved the Placement Document dated April 20, 2015.

Shares of ASHOKA BUILDCON LTD. was last trading in BSE at Rs.188.4 as compared to the previous close of Rs. 191. The total number of shares traded during the day was 105506 in over 2759 trades.

The stock hit an intraday high of Rs. 199.5 and intraday low of 187.1. The net turnover during the day was Rs. 20056622.

Source : Equity Bulls

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