The fund-raising committee of Minda Industries on Friday approved a qualified institutional placement of shares worth ₹500 crore.
The committee has fixed the floor price of the issue at ₹436.66 a share and may offer a discount of 5 per cent to institutional buyers.
On Friday, the stock closed at ₹432.30 on the BSE. The issue may close on Wednesday (March 29), Minda Industries said. Shareholders will closely monitor the response to the issue.
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