Stay updated with breaking news from Vikas Ecotech. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Reliance Power shares jumped 5.03 per cent to Rs 16.70. A total of 7,07,73,373 Reliance Power shares worth Rs 116 crore changed hands on the counter by 10 am
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.
Mauritius-based AG Dynamic Funds Limited has bought a stake in Vikas Ecotech as part of the small-cap company's fund raise drive
The proceeds from the QIP issue, which opened on May 31, will be utilised to expand its business and fund working capital requirement, the company said in a statement.