Info Edge India Ltd fixes floor price of QIP as Rs. 3177.18

The Fund Raise Committee of Info Edge India Ltd has, at its meeting held today, i.e. August 4, 2020 approved and adopted the preliminary placement document dated August 4, 2020 in connection with the QIP.

The board approved and authorized the opening of the QIP on August 4, 2020; and the 'Relevant Date' for this purpose, in terms of Regulation 171(b)(i) of the SEBI ICDR Regulations, is August 4, 2020 and accordingly the floor price in respect of the QIP, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations, and as approved by the Fund Raise Committee, is ₹3,177.18 (Rupees Three Thousand One Hundred Seventy Seven and Eighteen Paisa) per Equity Share. The Company may, in accordance with the special resolution dated July 27, 2020 of the shareholders, at its discretion offer a discount of up to 5% (or such higher discount as may be permitted under the SEBI ICDR Regulations) on the floor price in the QIP.

Shares of INFO EDGE (INDIA) LTD. was last trading in BSE at Rs.3200.05 as compared to the previous close of Rs. 3154.9. The total number of shares traded during the day was 5392 in over 873 trades.

The stock hit an intraday high of Rs. 3225 and intraday low of 3115. The net turnover during the day was Rs. 17068608.

Source : Equity Bulls

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