Vedanta shares in news today as firm launches QIP to raise funds
Shares of Vedanta closed 2.21% higher at Rs 459.40 on Monday. Market cap of the firm rose to Rs 1.70 lakh crore.
- Jul 16, 2024,
- Updated Jul 16, 2024 8:30 AM IST
Shares of mining major Vedanta are in news today after frim said its committee of directors has cleared the launch of a qualified institutional placement (QIP), setting the floor price at Rs 461.26 per equity share.
“We further wish to inform you that the ‘relevant date’ for the purpose of the issue is July 15, 2024, and accordingly, the floor price in respect of the aforesaid Issue is Rs 461.26 per equity share,” the company said in a stock exchange filing. The Company may offer a discount of not more than 5% on the floor price so calculated for the QIP.
Shares of Vedanta closed 2.21% higher at Rs 459.40 on Monday. Market cap of the firm rose to Rs 1.70 lakh crore.
In terms of returns, the stock fell gained 101% in two years and rose 78.62% in 2024.
The stock hit a 52-week high of Rs 506.85 on May 22, 2024 and a 52 week low of Rs 207.85 on September 28, 2023.
"We further wish to inform you that the ‘relevant date’ for the purpose of the Issue, in terms of the Regulation 171(b)(i) of the SEBI ICDR Regulations, is July 15, 2024 and accordingly, the floor price in respect of the aforesaid Issue, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is ? 461.26 per Equity Share. Pursuant to Regulation 176(1) of the SEBI ICDR Regulations and the approval of the shareholders, accorded through a special resolution on June 21, 2024 by way of postal ballot, the Company may offer a discount of not more than 5% on the floor price so calculated for the Issue," the firm said.
Shares of mining major Vedanta are in news today after frim said its committee of directors has cleared the launch of a qualified institutional placement (QIP), setting the floor price at Rs 461.26 per equity share.
“We further wish to inform you that the ‘relevant date’ for the purpose of the issue is July 15, 2024, and accordingly, the floor price in respect of the aforesaid Issue is Rs 461.26 per equity share,” the company said in a stock exchange filing. The Company may offer a discount of not more than 5% on the floor price so calculated for the QIP.
Shares of Vedanta closed 2.21% higher at Rs 459.40 on Monday. Market cap of the firm rose to Rs 1.70 lakh crore.
In terms of returns, the stock fell gained 101% in two years and rose 78.62% in 2024.
The stock hit a 52-week high of Rs 506.85 on May 22, 2024 and a 52 week low of Rs 207.85 on September 28, 2023.
"We further wish to inform you that the ‘relevant date’ for the purpose of the Issue, in terms of the Regulation 171(b)(i) of the SEBI ICDR Regulations, is July 15, 2024 and accordingly, the floor price in respect of the aforesaid Issue, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is ? 461.26 per Equity Share. Pursuant to Regulation 176(1) of the SEBI ICDR Regulations and the approval of the shareholders, accorded through a special resolution on June 21, 2024 by way of postal ballot, the Company may offer a discount of not more than 5% on the floor price so calculated for the Issue," the firm said.