Godrej Industries is trading lower by 4% at Rs 236 ahead of its proposed qualified institutional buyers (QIB) issue, which opens tomorrow.
“The securities issuance committee of the board of directors of the company has by a resolution dated July 21, 2012 fixed the price band at Rs 210 to Rs 235 per equity share for the proposed QIB issue,” Godrej Industries said in a filing.
The company proposed to issue of up to 15.66 million equity shares of Re 1 each of the company with a right, to allot up to 1.57 million additional equity shares in case of over subscription. The Issue opens and closes on July 24, 2012, it added.
The stock opened at Rs 242 and hit a low of Rs 235 on the National Stock Exchange. A combined 206,771 shares have changed hands on the counter so far on both the exchanges.
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