Express Pharma

Strides Shasun opens QIP, floor price at Rs 1,344.78 per scrip

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Plans to raise up to Rs 1,500 crore

Strides Shasun has opened the issue of shares of the company through qualified institutions placement (QIP) at a floor price of Rs 1,344.78 per scrip as part of plans to raise up to Rs 1,500 crore.

The QIP committee of the Board of Directors of the company has decided to open the qualified institutions placement of the company’s equity shares on December 17, 2015 Strides Shasun said in a filing to BSE.

“In accordance with Regulation 85 of the SEBI ICDR Regulations, the floor price has been arrived at Rs 1,344.78 per equity share and the company may offer a discount of not more than 5 per cent on the floor price,” it added.

In September, the company had said it planned to raise up to Rs 1,500 crore through various market instruments.

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