Floor price for QIP issue is Rs 356.60 per equity share
ITD Cementation India announced that pursuant to the board and shareholders resolution dated 01 July 2014 and 11 August 2014 respectively, QIP Committee of Directors at its meeting held on 27 August 2014, has approved the following;1. Opening of the Qualified Institutions Placement (QIP) on 27 August 2014;
2. Approved and adopted the Preliminary Placement Document dated August 27, 2014 in connection with the QIP;
The relevant date for the purpose of this QIP in terms of Regulation 81 (c)(i) of the SEBI Regulations is 27 August 2014 and accordingly the floor price in respect of the aforesaid QIP, based on the pricing formula as prescribed in under Regulation 85 (1) of the SEBI Regulations is Rs. 365.60 per Equity Share (the "Floor Price"). QIP Committee authorised issuance of equity shares at a discount of upto 5% on the Floor Price.
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