Steel Strips Wheels Ltd to raise Rs. 100 crores throughQIP

The Board of Directors of Steel Strips Wheels Ltd at its meeting held on August 01, 2015, have approved the proposal to raise funds upto an amount of Rs. 100.00 Crore through issue of equity shares by way of Qualified Institutions placement ("QIP") to qualified Institution Buyer.

In terms of Regulation 8 (1) and 9 (1) of the SEBl (Prohibition of Insider trading) Regulations, 2015, the Board of Directors of the Company has formulated and adopted the "Code of Practices and Procedure for fair disclosure of Unpublished Price Sensitive Information" and a "code of conduct to regulate, monitor and report by its employees and other connected person".

The "Code of Practices and Procedure for fair disclosure of Unpublished Price Sensitive Information", has also been uploaded on the Company's website i.e. www.sswlindia.com. Further in compliance with the Regulation 8(2) of the Regulations, a copy of the Code of Practices and Procedure for fair disclosure of Unpublished Price Sensitive Information is also enclosed.

Shares of STEEL STRIPS WHEELS LTD. was last trading in BSE at Rs.354.1 as compared to the previous close of Rs. 333.1. The total number of shares traded during the day was 88140 in over 5471 trades.

The stock hit an intraday high of Rs. 388 and intraday low of 339.6. The net turnover during the day was Rs. 32418250.

Source : Equity Bulls

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