Board of Hindustan Copper approves closure of QIP issue

Hindustan Copper on Monday closed its qualified institutional placement issue and approved the issue price of Rs 119.60 per equity share for the issue.

Apr 13, 2021 09:04 IST capital market

The Board of Hindustan Copper at its meeting held on 12 April 2021 has approved the closure of the QIP issue on Monday, 12 April 2021. The issue had opened on 07 April 2021.

The Board determined and approved the issue price of Rs 119.60 per share (including a premium of Rs 114.60 per equity share) (which takes into account a discount of 4.92% (i.e. Rs 6.19 per equity share) to the floor price of Rs 125.79 per equity share to be allotted to the eligible qualified institutional buyers in the issue.

The announcement was made after market hours yesterday, 12 April 2021. Shares of Hindustan Copper dropped 8.59% to settle at Rs 131.30 yesterday.

Hindustan Copper is engaged in exploration, exploitation, mining of copper and copper ore, including beneficiation of minerals, smelting and refining.

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