Sundaram Multi Pap raises ₹12.30 cr via institutional placement.

Sundaram Multi Pap has informed the exchanges that its board on Monday raised ₹12.30 crore through qualified institutional placement. In a notifucation to the stock exchanges, the company said that board has approved the allotment of 3 crore equity shares of face value of ₹1 each to the qualified institutional buyers at the issue price of ₹4.10 a share. The stock of Sundaram Multi Pap closed flat at ₹4.05 on the NSE.