Ramkrishna Forgings Ltd approves closure of QIP

The QIP Committee of Ramkrishna Forgings Ltd at its meeting held today i.e. July 18, 2017, has approved the closure of the QIP today i.e. July 18, 2017.

The committee approved the issue price of Rs. 510 per Equity Share, which is at a discount of Rs. 13.84 per Equity Share, to the Floor Price of Rs. 523.84 per Equity Share, for the Equity Shares to be allotted to eligible qualified institutional buyers pursuant to the QIP and approved and adopted the placement document dated July 18, 2017 in connection with the QIP.

Shares of RAMKRISHNA FORGINGS LTD. was last trading in BSE at Rs.540.25 as compared to the previous close of Rs. 540.05. The total number of shares traded during the day was 13840 in over 340 trades.

The stock hit an intraday high of Rs. 543.2 and intraday low of 528. The net turnover during the day was Rs. 7444928.

Source : Equity Bulls

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