Alembic Pharmaceuticals Ltd closes QIP, fixes issue price as Rs. 932

The committee of directors Alembic Pharmaceuticals Ltd have approved the closure of the Issue today, i.e. 6th August, 2020.

The committee also determined and approved the issue price of Rs. 932.00 per Equity Share (including a premium of Rs. 930.00 per Equity Share), which takes into account a discount of 4.97% (i.e. Rs. 48.75 per Equity Share) to the floor price of Rs. 980.75 per Equity Share determined as per the formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations, for the Equity Shares to be allotted to the eligible qualified institutional buyers in the Issue.

The board approved and adopted the placement document dated 6th August, 2020 and approved and finalised the confirmation of allocation note to be sent to the eligible qualified institutional buyers, intimating them about the allocation of Equity Shares pursuant to the Issue.

Shares of ALEMBIC PHARMACEUTICALS LTD. was last trading in BSE at Rs.1081.55 as compared to the previous close of Rs. 1005.2. The total number of shares traded during the day was 90069 in over 6829 trades.

The stock hit an intraday high of Rs. 1103.35 and intraday low of 979.75. The net turnover during the day was Rs. 94628461.

Source : Equity Bulls

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