Moneycontrol News
Kwality shares were locked at 5 percent lower circuit at Rs 16.25 on Monday after the company withdrew its qualified institutional placement (QIP) on weak investors interest.
There were pending sell orders of 117,099 shares, with no buyers available on the BSE, at 12:55 hours IST.
The QIP issue of the company was opened late on September 14 evening with a floor price of Rs 21.20 per share.
"However, due to recent volatility in the share market, the company could not generate interest of investors for the entire Rs 80 crore issue and therefore we withdraw the instant QIP offer with immediate effect," the dairy products maker said on September 21.
Overall equity market sentiment has been weak as benchmark indices lost more than 6 percent in September itself.
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