Strides Arcolab closes QIP issue

The board approved the issue price of Rs. 1,278/- per Equity Share (including premium of Rs. 1,268/- per equity share)

Strides Arcolab Ltd has announced that, in respect of the QIP which was opened by the Company on December 17, 2015, the QIP Committee of the Company , on December 21, 2015, has approved the following:

Closure of issue period of the QIP on December 21, 2015;

Approved the issue price of Rs. 1,278/- per Equity Share (including premium of Rs. 1,268/- per equity share). The issue price is at a discount of 4.97% to the floor price of Rs. 1,344.78 per Equity Share, in accordance with proviso to Regulation 85(1) of SEBI ICDR Regulations; and

Approved and adopted the Placement Document dated December 21, 2015, in connection with the QIP.

Strides Shasun Ltd is currently trading at Rs. 1308.2, up by Rs. 0.2 or 0.02% from its previous closing of Rs. 1308 on the BSE.

The scrip opened at Rs. 1315 and has touched a high and low of Rs. 1316.6 and Rs. 1308.2 respectively. So far 42921(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 10548.1 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1412.45 on 23-Nov-2015 and a 52 week low of Rs. 822.2 on 10-Feb-2015. Last one week high and low of the scrip stood at Rs. 1332 and Rs. 1255.05 respectively.

The promoters holding in the company stood at 34.38 % while Institutions and Non-Institutions held 39.3 % and 26.32 % respectively.

The stock is currently trading above its 50 DMA.