Somany Ceramics Ltd closes QIP

The Administrative Committee (the "Committee") of Somany Ceramics Ltd at its meeting held on December 18, 2015, has approved the closure of the Issue on December 18, 2015 and approved the issue price of Rs. 339.5 per Equity Share ("Issue Price"), which is at a discount of 4.97% i.e. Rs. 17.74 to the Floor Price of Rs. 357.24 per Equity Share, for the Equity Shares to be allotted to qualified institutional buyers in the Issue.

The company approved the issue of Confirmation Allocation Note to the allocation of 3534600 Equity Shares to Qualified Institutional Buyers at the issue price for an amount aggregating to Rs. 120 Crore.

The committee also approved and adopted the Placement Document (PD) dated December 18, 2015, in connection with the Issue.

Shares of SOMANY CERAMICS LTD. was last trading in BSE at Rs.392.8 as compared to the previous close of Rs. 333.2. The total number of shares traded during the day was 73437 in over 1882 trades.

The stock hit an intraday high of Rs. 399.8 and intraday low of 338. The net turnover during the day was Rs. 28656824.

Source : Equity Bulls

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