Zydus Wellness Limited board fixes QIP price as Rs. 1690

The meeting of the Finance and Administration Committee of Zydus Wellness Limited ("Committee") to be held on September 28, 2020 in respect of the QIP has approved the closure of the issue period for the QIP today i.e. on September 28, 2020.

The committee has determined and approved the issue price of Rs. 1,690.00/- per Equity Share (including a premium of Rs. 1,680.00/- per Equity Share) (which is at a discount of 4.83% i.e. Rs. 85.85/- per Equity Share to the floor price of Rs. 1,775.85 per Equity Share), determined according to the formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations, for the Equity Shares to be allotted to eligible qualified institutional buyers pursuant to the QIP.

The committee has also approved and adopted the placement document dated September 28, 2020 and confirmation of allocation note to be sent to the eligible qualified institutional buyers, intimating them of allocation of Equity Shares, pursuant to the QIP.

Shares of ZYDUS WELLNESS LTD. was last trading in BSE at Rs.1841.6 as compared to the previous close of Rs. 1863.85. The total number of shares traded during the day was 2381 in over 518 trades.

The stock hit an intraday high of Rs. 1893.75 and intraday low of 1830. The net turnover during the day was Rs. 4418649.

Source : Equity Bulls

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