Somany Ceramics raises Rs 120 cr via QIP

Somany Ceramics has raised Rs 120 crore through Qualified Institutional Placement (QIP) route.

"The company...Approved the issue and allotment of 35,34,600 equity shares of face value Rs 2 each to Qualified Institutional Buyers (QIB) at the issue price of Rs 339.5 per equity share, amount aggregating to Rs 120 crore", Somany Ceramics said in a BSE filing.

Emkay Global Financial Services Ltd is the Book Running Lead Manager to the said QIP of equity shares of the company.

Shares of Somany Ceramics were trading at Rs 380 apiece, up 1.77 per cent, from their previous close on BSE.