Navin Fluorine Raises ₹7.49 Billion Via QIP At ₹4,680 A Share

Navin Fluorine International Ltd. on Thursday closed its qualified institutional placement, allotting 1.60 million equity shares at ₹4,680 apiece, the company said in a filing. The issue price was 2.46% lower than the floor price of ₹4,798.28.

The company said investor applications were approved and funds were deposited in an escrow account. Share allotment is effective Thursday.

In June, the board had approved raising up to ₹7.50 billion through various modes including QIP, private or preferential placement, or public issue.