Fiem Industries to raise funds aggregating Rs 120 crore

Through QIP issue

Fiem Industries announced that in respect of the Qualified Institutions Placement, the Fund Raising Committee of the Board of Directors has, at its meeting held on 16 September 2016, inter alia, passed the following resolutions:

1. Determining and approving the issue price of Rs. 1,002/- per Equity Share (including premium of Rs. 992/- per Equity Share) after giving a discount of 5% to the Floor Price of Rs. 1054.70/-, for the issuance and allocation of 11,97,604 Equity Shares to eligible qualified institutional buyers in the Qualified Institutions Placement, aggregating upto Rs. 120 crore;

2. Approving and adopting the Placement Document dated 16 September 2016 in connection with the Qualified Institutions Placement (Placement Document); and

 

3. Approving the issue of Confirmation of Allocation Notes to the Qualified Institutional Buyers.

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