CESC opens QIP issue

In respect of issue of Equity Shares to QIBs pursuant to the Issue, the QIP Committee of the Board of Directors of CESC Ltd has, at its meeting held on October 28, 2014, pursuant to the board and shareholder resolutions dated September 22, 2014 and October 18, 2014, respectively, passed the resolution in connection with the QIP.

The committee authorised the opening of the Issue from October 28, 2014, approved and adopted the preliminary placement document dated October 28, 2014.

The relevant date for the purpose of this Issue in terms of Regulation 81(c)(i) of the SEBI ICDR Regulations is October 28, 2014 and accordingly the floor price in respect of the aforesaid Issue, based on the pricing formula as prescribed in under Regulation 85(1) of the SEBI ICDR Regulations is Rs. 677.84 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 Issue, at its discretion.

Shares of CESC LTD. was last trading in BSE at Rs.659.05 as compared to the previous close of Rs. 664.6. The total number of shares traded during the day was 30085 in over 2025 trades.

The stock hit an intraday high of Rs. 679.15 and intraday low of 656.1. The net turnover during the day was Rs. 20087818.

Source : Equity Bulls

Keywords