Bodal Chemicals Ltd closes QIP issue

The QIP Committee of Bodal Chemicals Ltd at its meeting held today i.e. 13th October, 2017 has approved the closure of the issue period for the QIP today i.e. 13th October, 2017.

The committee determined and approved the issue price of Rs. 172.00 per Equity Share (including a premium of Rs.170 per Equity Share), to the floor price of Rs. 166.73 per Equity Share determined as per the formula prescribed under Regulation 85(1) of the SEBI ICDR Regulations, for the Equity Shares to be allotted to the eligible qualified institutional buyers in the QIP.

The company approved and adopted the placement document dated 13th October, 2017, in connection with the QIP and also approved the issue of Confirmation of Allocation Note to be sent to eligible qualified institutional buyers in the QIP for allocation of 13,081,395 Equity Shares.

Shares of BODAL CHEMICALS LTD. was last trading in BSE at Rs.174.3 as compared to the previous close of Rs. 177.9. The total number of shares traded during the day was 101800 in over 1050 trades.

The stock hit an intraday high of Rs. 179.1 and intraday low of 172.35. The net turnover during the day was Rs. 17842006.

Source : Equity Bulls

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