Strides Arcolab Ltd fixes floor price for QIP as Rs. 1344.78

The QIP Committee of the Board of Directors of Strides Arcolab Ltd on December 17, 2015, has decided to open on "December 17, 2015" the "Qualified Institutions Placement (the "Issue") of Equity Shares of the Company, through a qualified institutions placement in accordance with Chapter VIII and other applicable provisions of the SEBI ICDR Regulations and Section 42 of the Companies Act, 2013 read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014.

In accordance with Regulation 85 of the SEBI ICDR Regulations, the floor price has been arrived at Rs. 1,344.78 per Equity Share and the Company may offer a discount of not more than 5% on the floor price.

Shares of STRIDES ARCOLAB LTD. was last trading in BSE at Rs.1300.7 as compared to the previous close of Rs. 1266.5. The total number of shares traded during the day was 42302 in over 2737 trades.

The stock hit an intraday high of Rs. 1305.95 and intraday low of 1255.05. The net turnover during the day was Rs. 54262879.

Source : Equity Bulls

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