Kiri Dyes to open QIP on October 21, 2010

Kiri Dyes and Chemicals Ltd has announced that the Board of Directors of the Company at its meeting held on October 16, 2010, has approved the proposal to open Qualified Institutional Placement (QIPs) Issue with effect from October 21, 2010.

The Board Fixed Floor price for the proposed QIPs issue of Rs. 597.55 per equity shares as per Regulation 85 of the SEBI issue of capital and disclosure requirements) regulations, 2009.

The stock was trading at Rs.626.05, up by Rs.23.85 or 3.96%. The stock hit an intraday high of Rs.631.25 and low of Rs.608.50.

The total traded quantity was 0.66 lakhs compared to 2 week average of 0.49 lakhs.

Source : Equity Bulls

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