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The Hyderabad-based pharma major Granules India Limited has fixed the floor price of its Qualified Institutional Placement (QIP) offer at Rs 127.63 per share as the issue for receiving bids opened on Wednesday.
The QIP committee of Granules' board will meet again on September 25 to consider and determine the price of equity shares to be issued in the sale offer. The company may, at its discretion, also offer a discount of up to 5 per cent on the floor price in this private placement.
In June, Granules India had got the shareholders' approval to raise Rs 500-crore equity capital
