Ashoka Buildcon closes QIP issue

Ashoka Buildcon today said its board has decided to close the QIP issue, which opened on April 13, with immediate effect.
The company in a filing to the BSE said that the QIP committee of the board in its meeting today decided to "close the issue with immediate effect".
"... The QIP Committee of the Board of Directors of the Company, at its meeting held on April 17, 2015, has decided to close the issue with immediate effect," the filing said.
The company had earlier said that it will issue shares at a floor price of Rs 185.05 apiece to institutional investors.

It earlier had said that the QIP committee of the board had decided to open the issue on April 13. The company had also said that it may offer a discount of maximum "five per cent from the SEBI floor price."
Last year, the company's shareholders had approved raising of up to Rs 850 crore through issue of shares to Qualified Institutional Buyers.
Shares of the company closed at Rs 188.20 apiece, up 0.11 per cent from the previous close.