Aluminium major Hindalco said on Thursday that its capital raising committee approved opening of its Qualified Institutional Placement (QIP) at a floor price of Rs 184.45 per equity share.
The company may offer a discount price of not more than 5 per cent on the floor price so calculated for the QIP, it said in a BSE filing on Thursday.
"A meeting of the capital raising committee will be held on or after March 7 to consider and approve the issue price including a discount, if any thereto as permitted under Sebi regulations for the equity shares to be allotted to qualified institutional buyers pursuant to the QIP," it said.
--IANS
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