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Sagar Cements informs about outcome of securities allotment committee meeting

08 Feb 2017 Evaluate

Sagar Cements has informed that subsequent to the approval accorded by the Board of Directors of the Company, at its meeting held on October 26, 2016 and the approval of the shareholders of the Company obtained by way of a special resolution passed on November 23, 2016 for the QIP, the Securities Allotment Committee of the Company on February 07, 2017 has passed the following resolutions; Authorizing the opening of the QIP on February 07, 2017; Approving the preliminary placement document dated February 07, 2017 in connection with the QIP, (the ‘Preliminary Placement Document’); and Approval of the floor price for the QIP. Further, the Relevant Date for this purpose, in terms of Regulation 81(c) (i) of the SEBI ICDR Regulations, is February 07, 2017 and accordingly the floor price in respect of the aforesaid QIP, based on the pricing formula as prescribed under Regulation 85(1) of the SEBI ICDR Regulations is Rs 723.10 per Equity Share. Pursuant to Regulation 85 of the SEBI ICDR Regulations, and further to the shareholders resolution dated November 23, 2016, the Company may offer a discount of not more than 5% on the floor price so calculated for the QIP.

The above information is a part of company’s filings submitted to BSE.

Sagar Cements Share Price

171.50 -0.60 (-0.35%)
23-Jun-2026 16:59 View Price Chart
Peers
Company Name CMP
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