 "IRB Infrastructure rebounds from intra-day low")
Shares of IRB Infrastructure Developers have moved higher by 4% to Rs 243, bouncing back nearly 8% from the intra-day low on the National Stock Exchange (NSE) on back of heavy volumes.
The stock has dipped 3% to Rs 226 in early morning trade after the company said it has fixed the floor price at Rs 230.54 for the qualified institutional placement (QIP). The issue opened on March 19, 2015.
“The floor price is Rs 242.67 per equity share for QIP. The company may offer a discount of not more than 5% on the floor price per equity share and discounted floor price after discount of 5% is Rs 230.54,” IRB Infrastructure said in a statement.
The infrastructure and construction company proposed to raise Rs 1,500 crore by issuing shares to the qualified institutional buyers (QIBs).
Till 1450 hours, a combined 4.92 million shares changed hands against an average 2.4 million shares that were traded daily in past two weeks on the NSE and BSE.
The stock has dipped 3% to Rs 226 in early morning trade after the company said it has fixed the floor price at Rs 230.54 for the qualified institutional placement (QIP). The issue opened on March 19, 2015.
“The floor price is Rs 242.67 per equity share for QIP. The company may offer a discount of not more than 5% on the floor price per equity share and discounted floor price after discount of 5% is Rs 230.54,” IRB Infrastructure said in a statement.
The infrastructure and construction company proposed to raise Rs 1,500 crore by issuing shares to the qualified institutional buyers (QIBs).
Till 1450 hours, a combined 4.92 million shares changed hands against an average 2.4 million shares that were traded daily in past two weeks on the NSE and BSE.