AksharChem: eyes on QIP issue

The board of directors of AksharChem India on Friday fixed the floor price for the qualified institutional placement at ₹816.59 a share. Earlier, shareholders had approved a proposal to raise a maximum of ₹200 crore through the QIP issue. The company may, at its discretion, offer a discount of up to 5 per cent on the floor price. A meeting of the QIP committee will be held on July 19 to consider and determine the issue price. Investors will closely monitor the development.