HSIL to raise Rs 150 cr via QIP

Hindustan Sanitaryware and Industries Ltd (HSIL) today said it will raise Rs 150 crore by issuing securities through Qualified Institutional Placement (QIP).

The Corporate Affairs Committee of the board of directors at its meeting held on September 14 approved the issue of fully paid up equity shares up to Rs 150 crore by way of QIP at a minimum price of Rs 136 crore per share.

In an announcement to the Bombay Stock Exchange, HSIL said the issue will open on September 27.

HSIL's scrip today closed at Rs 134.80 per share on the Bombay Stock Exchange, down 0.37 per cent from its previous close.