Premier Explosives Ltd approves QIP price

The Securities Allotment Committee of Premier Explosives Ltd today i.e. May 18, 2017 has authorized the closure of the Bid on today that is May 18, 2017 and the issue price of INR 400.00 ('Issue Price') after giving discount of 3.61 % i.e. INR. 14.97 per Equity Share, to the floor price of INR 414.97 per Equity Share as per the SEBI ICDR Regulations and shareholders' approval dated May 12, 2017, for the Equity Shares to be issued and allotted to eligible Qualified Institutional Buyers in the QIP.

The Committee also gave its approval of issue of Confirmation Allocation Note for the allocation of 16,51,000 Equity Shares of face value INR 10/- each to the Qualified Institutional Buyers.

Shares of PREMIER EXPLOSIVES LTD. was last trading in BSE at Rs.425.05 as compared to the previous close of Rs. 429.35. The total number of shares traded during the day was 4651 in over 257 trades.

The stock hit an intraday high of Rs. 437.05 and intraday low of 424. The net turnover during the day was Rs. 2001722.

Source : Equity Bulls

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