ITD Cementation India Ltd opens QIP

Pursuant to the board and shareholders resolution dated July 01, 2014 and August 11, 2014 respectively, QIP Committee of Directors of ITD Cementation India Ltd at its meeting held on August 27, 2014, has approved the opening of the Qualified Institutions Placement ("QIP") on August 27, 2014.

The committee also approved and adopted the Preliminary Placement Document dated August 27, 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 27, 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. 365.60 per Equity Share (the "Floor Price"). QIP Committee authorised issuance of equity shares at a discount of upto 5% on the Floor Price.

Shares of ITD CEMENTATION INDIA LTD. was last trading in BSE at Rs.407.55 as compared to the previous close of Rs. 388.15. The total number of shares traded during the day was 9447 in over 133 trades.

The stock hit an intraday high of Rs. 407.55 and intraday low of 380. The net turnover during the day was Rs. 3787207.

Source : Equity Bulls

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