Subsequent to the approval accorded by the Board of Directors of Aarti Industries Ltd, at its meeting held on November 1 , 2Ol8 and approval of the shareholders of the Company by way of a special resolution passed on January 14, 2019, for the QIP, the Fund Raising Committee of the Board of Directors of the Company ("Fund Raising Committee") has, at its meeting held today i.e. March 18,2019, approved the raising of funds by way of issue of Equity Shares, through a QIP, in accordance with the SEBI ICDR Regulations.
The committee approved the preliminary placement document in connection with the QIP and authorized the opening of the QIP today i.e. on March 18, 2019.
They also approved the floor price for the QIP is Rs. 1469.95 per Equity Share of the Company.
The Company may at its discretion offer a discount of not more than 5% on the floor price for the QIP, and the Company will accept bids at or above the 5% discount to the floor price. The issue price (including discount, if any) will be determined by the Company in consultation with the global coordinators and book running lead managers appointed for the QIP, on the basis of the bids received.
Shares of AARTI INDUSTRIES LTD. was last trading in BSE at Rs.1430 as compared to the previous close of Rs. 1417.1. The total number of shares traded during the day was 35808 in over 580 trades.
The stock hit an intraday high of Rs. 1449.1 and intraday low of 1396.85. The net turnover during the day was Rs. 51182536.