Gravita India Ltd. has successfully completed its qualified institutional placement, approving the allocation of 47.8 lakh shares at an issue price of Rs 2,096.2 per share. This pricing reflects a 5% discount to the floor price of Rs 2,206.49 per share, as disclosed in an official exchange filing.
The decision to engage in this placement highlights Gravita India's efforts to strengthen its capital base and improve its market position.
This move demonstrates the company's commitment to enhancing its financial standing and competitiveness in the market.