Prestige Estates Projects Ltd opens QIP

The QIP Committee of Prestige Estates Projects Ltd at its meeting held on August 04, 2014 and pursuant to the board and shareholders resolutions dated May 26, 2014 and July 26, 2014, respectively, passed the resolution in connection with the opening of the Qualified Institutions Placement ("QIP") on August 04, 2014, approving and adopting of the Preliminary Placement Document dated August 04, 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 August 04, 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. 247.70 per Equity Share (the "Floor Price") . A discount of up to 5% on the Floor Price may be offered by the Company to investors in the QIP, at its discretion.

Shares of PRESTIGE ESTATES PROJECTS LTD. was last trading in BSE at Rs.249.65 as compared to the previous close of Rs. 244.65. The total number of shares traded during the day was 23645 in over 1730 trades.

The stock hit an intraday high of Rs. 255 and intraday low of 248.5. The net turnover during the day was Rs. 5952298.

Source : Equity Bulls

Keywords