Navin Fluorine International Limited on Monday, July 7, announced that its Board of Directors has approved opening a qualified institutions placement (QIP) of equity shares to raise up to ₹750 crore.
In a filing with BSE and NSE, the company said the board approved the opening of the issue and adopted the preliminary placement document and application form. The floor price for the QIP has been set at ₹4,798.28 per equity share, calculated as per SEBI’s ICDR Regulations.
The board has also fixed July 7, 2025, as the relevant date for the issue. As per shareholder approval obtained earlier, the company may offer up to a 5% discount on the floor price, and the final issue price will be determined in consultation with the book running lead manager.
The board also resolved to amend the Notice of its upcoming AGM to remove an earlier agenda item on raising funds via equity or other instruments of up to ₹750 crore, as the QIP now addresses this requirement.
The board meeting, which commenced at 4:30 PM and concluded at 5:15 PM IST, also noted that the trading window remains closed for designated persons from June 30, 2025, to August 1, 2025, in view of the upcoming financial results for the quarter ended June 30, 2025.
