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Premier Explosives opens QIP issue

Capital Market 

On 15 May 2017

Explosives announced that the Securities Allotment Committee of the Company on 15 May 2017 has, inter alia passed the following resolutions:

a.Authorizing the opening of the QIP on 15 May 2017;
b.Approving and adopted the Preliminary Placement Document dated 15 2017 in connection with the QIP; and
c.Approval and taken into record the floor price for the QIP, based on the pricing formula as prescribed under Regulation 85(1) of the ICDR Regulations being; Rs 414.97 per Equity Share .
d.Pursuant to Regulation 85 of the ICDR Regulations, and further to the shareholders resolution dated 12 May 2017, the Company may offer a discount of not more than 5% on the floor price so calculated for the QIP Further, the 'Relevant Date' for this purpose, is 15 May 2017.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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