Aarey Drugs & Pharmaceuticals Ltd approves QIP price of Rs. 54.93

The Committee of the Board (the 'Committee') of Aarey Drugs & Pharmaceuticals Ltd at its meeting held today has passed the following in connection with the Issue:

- Approved the issue price of Rs. 54.93/- per Equity share ( including premium of Rs. 44.93/- per Equity share) for issuance & allocation of 33,00,000 Equity shares to eligible Qualified Institutional Buyers in the Qualified Institutional Placement, aggregating to Rs. 1,812.69 Lakhs.

- Approved and adopted the Placement document dated March 20, 2018, in connection with the Issue, (the " Placement Document").

- Approved the issue of confirmation of allocation notes to Qualified Institutional Buyers.

Shares of AAREY DRUGS & PHARMACEUTICALS LTD. was last trading in BSE at Rs.52.45 as compared to the previous close of Rs. 52.55. The total number of shares traded during the day was 180151 in over 247 trades.

The stock hit an intraday high of Rs. 53.9 and intraday low of 51. The net turnover during the day was Rs. 9499545.

Source : Equity Bulls

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