Anant Raj shares tumble 4% after launching QIP, sets floor price at Rs 695.83
Shares of Anant Raj Ltd came under pressure to fall as much as 4% to their day’s low of Rs 708.40 on the NSE on Wednesday, October 8, after the company’s board approved the opening of a qualified institutional placement (QIP) of equity shares with a floor price of Rs 695.83 per share. The floor price is at a 5.5% discount to the previous close of Rs 736.
The floor price has been determined in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, the company said in a regulatory filing on October 7. The issue price will be finalised in consultation with the book-running lead managers appointed for the offering, Anant Raj further added.
QIP, or Qualified…
