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The qualified institutional placement of Shree Cement opened for subscription on Monday. The board of directors on Monday set the floor price for the QIP at ₹19,806.46 a share and approved the opening of the issue.
The company’s board, on October 19, had said that it planned to raise as much as ₹3,000 crore equity in one or more tranches through the QIP route. Shareholders will closely monitor the funds to be raised, response to the issue and identity of the buyers.
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