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PI Industries
BSE: 523642NSE: PIINDISIN: INE603J01030

13th-Feb-2020 09:06Source: NSE

PI Industries Limited

PI Industries Limited has informed the Exchange that the Board approved the raising of funds through a qualified institutions placement ( QIP ) to eligible investors for an aggregate amount not exceeding Rs. 2,000 crore by issue of equity shares and/or other eligible securities, at such price or prices as may be permissible under applicable law, in one or more tranches, in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, the Companies Act, 2013 and the rules made thereunder (including the Companies (Prospectus and Allotment of Securities) Rules, 2014 and the Companies (Share Capital and Debentures) Rules, 2014) and any other applicable laws, each as amended and related matters thereto, subject to receipt of necessary approvals, including approval of the shareholders of the Company and other regulatory / statutory approvals, as may be required. Further, for the purpose of giving effect to the above, the Board of Directors has also constituted the QIP Committee and authorised such committee to decide, inter alia, the terms and conditions of the proposed QIP and for allotment of equity shares and/or eligible securities, pursuant to the QIP.

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