Emco QIP issue closing date fixed at October 23, to raise 120 Crores

Emco Ltd has announced that the bid closing date for the proposed issue of Equity Shares of the Company under Chapter XIII A - Qualified Institutional Placement is fixed at October 23, 2006.

Further, the Company has approved issue of 2,000,000 Equity Shares of Rs 10/- each pursuant to the issue, at an issue price of Rs 600/- per Equity Share aggregating to an issue size of Rs 1,200 million. The issue price of Rs 600/- is above the floor price calculated in accordance with the SEBI Guidelines.

Source : Equity Bulls

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