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Astral Poly gets nod to raise Rs 240.88 crore

15 Dec 2014 Evaluate

Astral Poly Technik has received approval to raise Rs 240.88 crore through qualified institutional buyers (QIB). The company will issue close to six million equity shares at a price of Rs 402.52 per equity share.

The securities committee of the company has approved such an issuance of 5984519 equity shares at a price of Rs 402.52 per equity share (including a premium of Rs 401.52 per equity share), aggregating up to Rs 240.88 crore, to Qualified Institutional Buyers, pursuant to Chapter VIII of the SEBI Regulations.

Further the company has informed that, pursuant to shareholders approval received on August 25, 2014 permitting a discount to the floor price, the issue price shall be fixed at a price of Rs 402.52 per equity share.

Astral Poly Technik manufactures plumbing systems for residential and industrial applications. Astral is equipped with state of art production facilities at Ahmadabad and Himachal Pradesh to manufacture plumbing systems from 1/2” to 6” with all kinds of necessary fittings.

Astral Share Price

1592.50 -20.35 (-1.26%)
20-Apr-2026 14:59 View Price Chart
Peers
Company Name CMP
Supreme Industries 3727.70
Astral 1592.50
Finolex Inds 174.15
Nilkamal 1328.15
Jain Irrigation Sys 33.41
View more..

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