Mahindra Forgings has today informed the stock exchanges that their QIP and Issue Committee of the Board of Directors of the Company allotted 1,62,41,300 equity shares to Qualified Institutional Buyers.
The price of each share is fixed at Rs 107.75 per share, at a face value Rs 10 each. This price includes a premium of Rs 97.75 per share, and aggregates to earnings of Rs 175 crore. This decision was taken at a meeting held yesterday.
