Hindalco opens QIP at floor price of Rs 184.45 per equity share

Aluminium major Hindalco said on Thursday that its capital raising committee approved opening of its Qualified Institutional Placement (QIP) at a floor price of Rs 184.45 per equity share.

The company may offer a discount price of not more than 5 per cent on the floor price so calculated for the QIP, it said in a BSE filing on Thursday.

"A meeting of the capital raising committee will be held on or after March 7 to consider and approve the issue price including a discount, if any thereto as permitted under Sebi regulations for the equity shares to be allotted to qualified institutional buyers pursuant to the QIP," it said.

--IANS

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