Gulshan Polyols Limited approves QIP route to raise funds

Gulshan Polyols approved issue of equity shares of the Company of face value of Rs 1 each to eligible Qualified Institutional Buyers (QIB) for an amount aggregating up to Rs10,000 Lakhs in respect of the issue at the floor price of Rs 343.66 per equity share.

The company reiterated, Qualified Institutional Buyers can avail a discount of not more than 5% to the Floor Price, calculated for the Qualified Institutional Placement (QIP) in accordance with the approval of the shareholders of the Company on September 18, 2021.

Qualified Institutional Placement(QIP) is a practice in Capital Markets to raise funds from prospective buyers such as Mutual funds, Domestic Financial institutions including banks and insurance firms, venture capital funds, foreign institutional investors, and others are all examples of QIBs.