Phoenix Mills Ltd opens QIP issue

The Capital Raising Committee (the "Committee") of the Board of directors of Phoenix Mills Ltd at its meeting held on July 09, 2015 has approved and declared the opening of the QIP on July 09, 2015.

The Board approved and taken on record the floor price in respect of the QIP, based on the pricing formula as prescribed under Regulation 85 of the ICDR Regulations being, Rs. 372.20 per Equity Share. The Committee may also offer a discount of upto and not more than 5% of the floor price at the time of determination of the Issue Price in accordance with the ICDR Regulations.

The committee also approved and taken on record, the 'relevant date' for this purpose, in terms of Regulation 81(c)(i) of the ICDR Regulations, as July 09, 2015.

Shares of The Phoenix Mills Ltd was last trading in BSE at Rs.376.4 as compared to the previous close of Rs. 371.5. The total number of shares traded during the day was 4328 in over 164 trades.

The stock hit an intraday high of Rs. 380 and intraday low of 367.45. The net turnover during the day was Rs. 1607899.

Source : Equity Bulls

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