Borosil Renewables allots 1.58 crore equity shares to QIBs

The securities issue committee of Borosil Renewables at its meeting held on 17 December 2020 has approved the issue and allotment of 1,58,04,030 Equity Shares to eligible qualified institutional buyers at an issue price of Rs. 126.55 per Equity Share (including a premium of Rs. 125.55 per Equity Share), which takes into account a discount of 4.99% to the floor price of Rs 133.19 per Equity Share, aggregating to Rs. 200 crore approximately.

Pursuant to the allotment of Equity Shares in the Issue, the issued, subscribed, and paid-up Equity Share capital of the Company stands increased from Rs. 11,40,59,537 consisting of 11,40,59,537 Equity Shares of Rs. 1 each to Rs. 12,98,63,567 consisting of 12,98,63,567 Equity Shares of Re. 1 each.

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