Eveready Industries India Ltd approves QIP to raise Rs. 150 crores

Eveready Industries India Ltd approves QIP to raise Rs. 150 croresThe Board of Directors of Eveready Industries India Ltd at its meeting held on July 24, 2015, has resolved to issue offer and allot, subject to the approval of the members of the Company in terms of the provisions of the Companies Act, 2013 and of other applicable laws, regulations etc., equity shares / fully convertible debentures / partly convertible debentures / non-convertible debentures with warrants / any other securities (collectively referred to as 'QIP Securities') to Qualified Institutional Buyers ('QIBs') on private placement bases as per the SEBI (ICDR) Regulations, 2009 whether or not such QIBs are members of the Company, at such time or times, in one or more tranche or tranches, at par or at such price or prices, and on such terms and conditions as may be determined later, provided that the aggregate amount to be raised by issue of QIP Securities shall not exceed a sum of Rs. 150 Crores.

At the aforesaid meeting, it has also been decided to put up the above for the approval of the members of the Company at the Annual General Meeting of the members of the Company to be held on August 21, 2015.

Shares of EVEREADY INDUSTRIES INDIA LTD. was last trading in BSE at Rs.356 as compared to the previous close of Rs. 367.7. The total number of shares traded during the day was 187694 in over 4089 trades.

The stock hit an intraday high of Rs. 371 and intraday low of 344.75. The net turnover during the day was Rs. 67428252.

Source : Equity Bulls

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