Hindustan Copper closes QIP Issue and approves issue price of Rs119.60 per share; stock climbs over 3%

The issue had opened on April 7, 2021. The company’s board also approved and adopted the Placement Document dated April 12, 2021.

Apr 13, 2021 09:04 IST India Infoline News Service

Hindustan Copper Limited on Monday closed its qualified institutional placement (QIP) of equity shares of face value Rs5/- each. The issue had opened on April 7, 2021.

The Board of Directors of the company at its meeting on April 12, 2021, also approved the issue price of Rs119.60 per equity share for the issue which includes a premium of 114.60 per equity share, (which takes into account a discount of 4.92% i.e. 6.19 per equity share to the floor price of 125.79 per Equity Share) for the equity shares to be allotted to the eligible Qualified Institutional Buyers in the Issue.

The company’s board also approved and adopted the Placement Document dated April 12, 2021.

At around 9.35 am, Hindustan Copper Ltd was trading at Rs135.45 per piece up Rs4.15 or 3.16% from its previous closing of Rs131.30 per piece on the BSE.

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