Jyoti Structures Ltd closes QIP

A meeting of the Committee of Board of Directors of Jyoti Structures Limited (Company) was held on September 26, 2014 in connection with the proposed placement of equity shares to Qualified Institutional Buyers (Issue) pursuant to Section 42 of the Companies Act, 2013 and the rules made thereunder and the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, (SEBI Regulations).

In the aforesaid meeting, the Committee has declared the Issue closed with immediate effect and allocated 2,33,87,018 Equity Shares, at an issue price of Rs. 42.85 per Equity Share (Issue Price) i.e. at a premium of Rs. 40.85 per Equity Share, aggregating Rs. 10,021.34 Lakhs to eligible Qualified Institutional Buyers.

The Board also approved the Placement Document.

Shares of JYOTI STRUCTURES LTD. was last trading in BSE at Rs.40.3 as compared to the previous close of Rs. 39.8. The total number of shares traded during the day was 212320 in over 2784 trades.

The stock hit an intraday high of Rs. 40.75 and intraday low of 38.4. The net turnover during the day was Rs. 8468287.

Source : Equity Bulls

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