Sheela Foam Ltd raises funds through QIP

The QIP Comumittee of Sheela Foam Ltd at its meeting held today, i.e., 26th September, 2023, approved the allotment of 11,131,725 Equity Shares to eligible qualified institutional buyers at the issue price of Rs. 1,078.00 per Equity Share, i.e., at a premium of Rs. 1,073 per Equity Share (which includes a discount of Rs. 55.99 per Equity Share (4.94% of the floor price, as determined in terms of the SEBI ICDR Regulations), aggregating to approximately Rs. 12,000 million, pursuant to the Issue.

Pursuant to the allotment of Equity Shares in the Issue, the paid-up equity share capital of the Company stands increased from Rs. 487.82 million consisting of 97,565,616 Equity Shares to Rs. 543.49 million consisting of 108,697,341 Equity Shares each.

The Issue opened on 20t September, 2023 and closed on 25t September, 2023.

Shares of Sheela Foam Limited was last trading in BSE at Rs. 1128.90 as compared to the previous close of Rs. 1106.30. The total number of shares traded during the day was 9206 in over 1073 trades.

The stock hit an intraday high of Rs. 1139.65 and intraday low of 1096.20. The net turnover during the day was Rs. 10187283.00.

Source : Equity Bulls

Keywords

SheelaFoam INE916U01025 FundRaising QIBs QIP