Strides Arcolab sets floor price for QIP at Rs.1,344.78/share

In accordance with Regulation 85 of the SEBI ICDR Regulations, the floor price has been arrived at Rs. 1,344.78 per Equity Share and the Company may offer a discount of not more than 5% on the floor price.

Strides Arcolab Ltd has informed BSE that the QIP Committee of the Board of Directors of the Company on December 17, 2015, has decided to open on "December 17, 2015" the "Qualified Institutions Placement (the "Issue") of Equity Shares of the Company, through a qualified institutions placement in accordance with Chapter VIII and other applicable provisions of the SEBI ICDR Regulations and Section 42 of the Companies Act, 2013 read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014.

In accordance with Regulation 85 of the SEBI ICDR Regulations, the floor price has been arrived at Rs. 1,344.78 per Equity Share and the Company may offer a discount of not more than 5% on the floor price.