Camlin Fine Sciences Ltd opens QIP

Subsequent to the approval accorded by the Board of Directors of Camlin Fine Sciences Ltd, at its meeting held on September 25, 2015 and the special resolution passed by the shareholders of the Company on December 02, 2015 by way of postal ballot for the QIP, the QIP Committee of the Company, on June 28, 2016 has, authorised the opening of the QIP on June 28, 2016.

The committee approved the preliminary placement document dated June 28, 2016 in connection with the QIP and the the floor price for the QIP.

Further, the 'Relevant Date' for this purpose, in terms of Regulation 81(c)(i) of the SEBI ICDR Regulations, is June 28, 2016 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. 89.89 per Equity Share. Pursuant to Regulation 85 of the SEBI ICDR Regulations the Company may offer a discount of not more than 5% on the floor price so calculated for the QIP.

Shares of CAMLIN FINE SCIENCES LTD. was last trading in BSE at Rs.94.05 as compared to the previous close of Rs. 91.35. The total number of shares traded during the day was 45937 in over 519 trades.

The stock hit an intraday high of Rs. 94.35 and intraday low of 92. The net turnover during the day was Rs. 4294026.

Source : Equity Bulls

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