Minda Industries Ltd approves QIP

In respect of the QIP, the Fund Raising Committee of the Board of Directors of Minda Industries Ltd at its meeting held today i.e. 29 March, 2017, has inter alia approved the closure of the QIP today, i.e., 29 March, 2017. The Board approved the issue price of Rs.423.00 per Equity Share (including a premium of Rs. 421.00 per Equity Share)upon the closure of the Issue, which is at a discount of Rs. 13.66 per Equity Share to the Floor Price of Rs. 436.66 per Equity Share, for the Equity Shares to be allotted to eligible qualified institutional buyers pursuant to the QIP.

The Board also approved and adopted the placement document dated 29 March, 2017, in connection with the QIP. The aforesaid meeting commenced at 2.45 p.m. and concluded at 3.00 p.m.

Shares of MINDA INDUSTRIES LTD.-$ was last trading in BSE at Rs.438 as compared to the previous close of Rs. 436.8. The total number of shares traded during the day was 8102 in over 265 trades.

The stock hit an intraday high of Rs. 441 and intraday low of 431.45. The net turnover during the day was Rs. 3540617.

Source : Equity Bulls

Keywords