Relevant Date is 17 December 2015; Floor price is 357.24
Somany Ceramics announced that the Company Administrative Committee ("Committee") of the Company on 17 December 2015 has passed the following resolutions with regards to Qualified Institutional Placement of equity shares of Rs 2 each for an aggregate amount not exceeding Rs 150 crore (including premium) -Authorising the opening of QIP on 17 December 2015.
Approving the preliminary placement document dated 17 December 2015 In connection with the Issue, (the "Preliminary Placement Document"); and
Recorded the floor price for the Issue i.e. Rs. 357.24.
Further the Company has informed that, the 'Relevant Date' for this purpose, in terms of Regulation 81(c)(i) of the SEBI Regulations, is 17 December 2015 and accordingly the floor price in respect of the aforesaid Issue, based on the pricing formula as prescribed under Regulation 85(1) of the SEBI Regulations is Rs. 357.24 per Equity Share. Pursuant to Regulation 85 of the SEBI ICDR Regulations the Company may offer a discount of not more than 5% on the floor price so calculated for the Issue.
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