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Bodal Chemicals announces closure of QIP issue

Capital Market 

On 13 October 2017

The QIP Committee of at its meeting held on 13 October 2017 has passed the following resolutions -

a. Approved the closure of the issue period for the QIP on 13 October, 2017;

b. Determined and approved the issue price of Rs. 172.00 per Equity Share (including a premium of Rs.170 per Equity Share), to the floor price of Rs. 166.73 per Equity Share determined as per the formula prescribed under Regulation 85(1) of the SEBI ICDR Regulations, for the Equity Shares to be allotted to the eligible qualified institutional buyers in the QIP;

c. Approved and adopted the placement document dated 13 October, 2017, in connection with the QIP; and

d. Approved the issue of Confirmation of Allocation Note to be sent to eligible qualified institutional buyers in the QIP for allocation of 13,081,395 Equity Shares.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 13 2017. 17:07 IST