Sarla Performance Fibers Ltd opens QIP

The Board of Directors of Sarla Performance Fibers Ltd at its meeting held on October 20, 2014 and pursuant to the approval by the members of the Company at the AGM held on September 27, 2014 has passed resolution in connection with the QIP.

The Board authorized the opening of the QIP on October 20, 2014 and approved & adopted the Preliminary Placement Document dated October 20, 2014 in connection with the QIP.

In relation to the QIP, the company have filed Preliminary Placement Document dated October 20, 2014 with your office on October 20, 2014.

The Relevant Date for this purpose in terms of Regulation 81(c)(i) of the SEBI ICDR Regulation is October 20, 2014 and accordingly the Floor Price in respect of the aforesaid QIP, based on the pricing formula as prescribed under Regulation 85(1) of the SEBI ICDR Regulations is Rs. 350.54 per Equity Share.

Shares of SARLA PERFORMANCE FIBERS LTD. was last trading in BSE at Rs.368.75 as compared to the previous close of Rs. 365.2. The total number of shares traded during the day was 1723 in over 28 trades.

The stock hit an intraday high of Rs. 368.8 and intraday low of 356. The net turnover during the day was Rs. 619832.

Source : Equity Bulls

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