SRF Ltd. on Monday touched a new 52-week high of Rs 4,525, a gain of 2% in early trade. On the diversified company raising Rs 750 crore through qualified institutional placement (QIP).
The stock opened at Rs 4486.60 with previous closing at Rs 4450.95. It has given a return of 63% this year and has gained almost 9% this week.
SRF ltd. stated the Board meeting held on October 17, 2020, approved allotment of 1.76 million equity shares to eligible qualified institutional buyers (QIB) at the issue price of Rs 4,250 per share.
ICICI Prudential Mutual Fund, HDFC Life Insurance Company, Nippon Life India Asset Management, and SBI Mutual Fund have been allotted shares in the private placement.
TOPICS:
SRF ltd