Hi-Tech Pipes launches QIP at floor price of Rs 194.98 per share; stock up | News on Markets
Hi-Tech Pipes share price: Pipe manufacturer Hi-Tech Pipes shares gained up to 2.55 per cent to hit an intraday high of Rs 203 per share on Tuesday, October 8, 2024.
Hi-tech Pipes shares rose after the company announced that it has launched its qualified institutional placement (QIP), setting a floor price of Rs 194.98 per share, as approved by its board and shareholders.
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In an exchange filing, Hi-Tech Pipes said, “The Fund Raising Committee has approved the floor price for the Issue, being ₹194.98 per Equity Share (“Floor Price”), based on the pricing formula as prescribed under Regulation 176 of the SEBI ICDR…
