NCL In­dus­tries: QIP is­sue opens

The Hindu Business Line - - STOCKS -

Shares of NCL In­dus­tries, ear­lier Na­gar­juna Ce­ment, will re­main in fo­cus on fund rais­ing plans. The com­pany’s board on Thurs­day ap­proved the open­ing of the qual­i­fied in­sti­tu­tions place­ment (QIP) is­sue and fixed the floor at ₹249.63 a share. The comapny’s board in Au­gust had ap­proved a pro­posal to raise up to ₹250 crore by is­sue of shares through QIP. The com­pany may of­fer a max­i­mum dis­count of 5 per cent to the is­sue price (to be fixed) for QIP al­lot­tees.

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