Action Construction Equipment Ltd fixes floor price for QIP as Rs. 254.55

Subsequent to the approval accorded by the board of directors of Action Construction Equipment Ltd (the 'Board'), at its meeting held on July 31, 2021 and the special resolution passed by the shareholders of the Company on September 3, 2021, the Qualified Institutions Placement Committee ('QIP Committee') has at its meeting held today i.e. September 20, 2021, approved and adopted the preliminary placement document dated September 20, 2021 and the application form dated September 20, 2021 in connection with the Issue ('Preliminary Placement Document').

The QIP committee also authorised the opening of the Issue today, i.e. September 20, 2021 and approved the floor price of Rs. 254.55 for the Issue.

Shares of Action Construction Equipments Ltd. was last trading in BSE at Rs. 248.05 as compared to the previous close of Rs. 266.45. The total number of shares traded during the day was 38036 in over 1445 trades.

The stock hit an intraday high of Rs. 269.5 and intraday low of 246. The net turnover during the day was Rs. 9777947.

Source : Equity Bulls

Keywords