SRF Limited approves floor price of QIP as Rs. 4168.73

Pursuant to the approval accorded by the board of directors of SRF Limited (the "Board"), at its meeting held on August 31, 2020 and special resolution passed by the members of the Company by way of postal ballot on October 8, 2020, the QIP Committee has, at its meeting held today, i.e., October 12, 2020, considered and approved the adoption of the preliminary placement document dated October 12, 2020 and the application form in connection with the Issue.

The committee also authorised the opening of the Issue today, i.e., October 12, 2020.

The QIP Committee has fixed the 'Relevant Date' for the purpose of the Issue as October 12, 2020 and accordingly the floor price in respect of the aforesaid Issue, based on the pricing formula as ₹ 4168.73 per Equity Share. The Company may offer a discount of not more than 5% on the floor price so calculated for the Issue.

Shares of SRF LTD. was last trading in BSE at Rs.4373 as compared to the previous close of Rs. 4267.7. The total number of shares traded during the day was 14743 in over 2649 trades.

The stock hit an intraday high of Rs. 4405 and intraday low of 4255.55. The net turnover during the day was Rs. 64170818.

Source : Equity Bulls

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