The fund raising committee of the company at its meeting held on February 21 approved the issue and allotment of 35,72,000 equity shares pursuant to the QIP.
Shares of Vardhman Special Steels rose 2 percent intraday Thursday as company approved issue of equity shares to qualified institutional buyers.
The fund raising committee of the company at its meeting held on February 21 approved the issue and allotment of 35,72,000 equity shares pursuant to the QIP to eligible qualified institutional buyers at the issue price of Rs 140 per equity share aggregating to approximately Rs. 50,00,80,000.
The share touched its 52-week high Rs 194.65 and 52-week low Rs 77.14 on 31 October, 2017 and 09 March, 2017, respectively.
Currently, it is trading 22.19 percent below its 52-week high and 96.33 percent above its 52-week low.
At 09:41 hrs Vardhman Special Steels was quoting at Rs 151.45, up Rs 1.70, or 1.14 percent on the BSE.
Posted by Rakesh Patil
