V-MART Retail Ltd board opens QIP, fixes floor price as Rs. 2432.84 per share

Pursuant to the approval accorded by the board of directors of V-MART Retail Ltd (the "Board"), at its meeting held on September 5, 2020 and the special resolution passed by the members of the Company at their annual general meeting held on September 30, 2020, the Investment Committee of the Board has, at its meeting held today i.e. 28January, 2021, authorized the opening of the Issue today, i.e. 28th January, 2021.

The committee approved the floor price for the Issue, being Rs. 2,432.84 per Equity Share, based on the pricing formula as prescribed under Regulation 176 of the SEBI ICDR Regulations.

The committee also approved and adopted the preliminary placement document dated 28th January, 2021 together with the application form dated 28th January, 2021 in connection with the Issue.

The Company may at its discretion offer a discount of not more than 5% on the floor price for the Issue.

Shares of V-MART RETAIL LTD. was last trading in BSE at Rs.2417.5 as compared to the previous close of Rs. 2399.9. The total number of shares traded during the day was 3635 in over 971 trades.

The stock hit an intraday high of Rs. 2520 and intraday low of 2342.95. The net turnover during the day was Rs. 8877943.

Source : Equity Bulls

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