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PVR opens QIP issue to raise Rs 800 crore

The floor price for the issue has been fixed at Rs 1,495.93 per equity share, which is 1.1 percent higher to the closing price of January 27.

January 27, 2021 / 09:07 PM IST
 
 
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Multiplex chain operator PVR launched its qualified institutional placement (QIP) issue for subscription on January 27, following the approval from shareholders last week.

"The Fund Raise Committee of the company has approved the preliminary placement document in connection with the QIP; and authorised the opening of QIP on January 27," said PVR in its BSE filing.

The floor price for the issue has been fixed at Rs 1,495.93 per equity share, which is 1.1 percent higher to the closing price of January 27.

PVR shares gained 1.19 percent on January 27 to close at Rs 1,480.05 on the BSE.

The company said the Fund Raise Committee would consider and determine the issue price of equity shares to be issued pursuant to the QIP, including any discount on the floor price, on February 1.

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The Board of Directors of the company had approved the fund raising on December 18, 2020, while the shareholders by way of a special resolution passed the same through postal ballot on January 19, 2021.
Moneycontrol News
first published: Jan 27, 2021 09:07 pm

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