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Vikas Ecotech is expanding its business portfolio by manufacturing steel pipes and MDPE pipes and the company recently forayed into the real-estate segment.
According to Vikas Ecotech's exchange filing, the committee determined and approved, in accordance with the SEBI ICDR Regulations, the issue price at Rs 2.80 per equity share (including a premium of Rs 1.80 per equity share), which is at a discount of Rs 0.12 per equity share i.e. 4 per cent to the floor price of Rs 2.92 per equity share to be allotted to the eligible qualified institutional buyers in the present tranche., Markets News, Times Now
The company has allotted a total of 17.85 crore equity shares to eligible qualified institutional buyers at the given issue price, amounting to Rs 49.98 crore.