Action Construction Equipment launches QIP for fundraising; Stock ends higher

The floor price has been fixed at Rs254.55 per share for the offer.

Sep 21, 2021 03:09 IST India Infoline News Service

Action Construction Equipment Ltd. launched its Qualified Institutions Placement for fundraising. The floor price has been fixed at Rs254.55 per share for the offer.

The QIP Committee is scheduled to be held on September 23, 2021, to, inter alia, consider and approve the Issue price, including a discount, if any thereto as permitted under the SEBI ICDR Regulations, for the Equity Shares to be allotted to qualified institutional buyers, pursuant to the Issue, company said in a filing on Tuesday.

Action Construction Equipment Ltd stock trade on Tuesday ended at Rs252.50 per piece up by Rs4.45 or 1.79% from its previous closing of Rs248.05 per piece on the BSE.

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