QIP issue opens on 06 December 2016
Deep Industries announced that subsequent to the approval accorded by Board of Directors of the Company, at its meeting held on 27 October 2016 and approval of the shareholders of the Company by way of a special resolution dated 28 November 2016 for the QIP, the QIP Committee of the Company has, at its meeting held on 06 December 2016, inter alia, passed resolution in connection with the following:(a) Approval of Preliminary Placement Document.
(b) Authorising opening of the issue on 06 December 2016.
Further, "The Relevant Date" for this purpose in term of the Regulation 81(c)(i) of Chapter VIII of SEBI ICDR Regulations is 06 December 2016 and accordingly the floor price in respect of aforesaid QIP, based on the pricing formula as prescribed under Regulation 85(1) of SEBI Regulation is Rs. 239.80/- per Equity Share. The Company may its discretion offer a discount up to 5% on the floor price in the QIP.
Further, a meeting of QIP Committee of the Company is scheduled is scheduled to be held on 09 December 2016, inter alia to consider and determine the price of Equity Shares of the Company to be issued in the QIP, in accordance with chapter VIII and other applicable provisions of the SEBI Regulations and Section 42 of the Companies Act, 2013 read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014.
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