Institutional share issue opened at Rs 127.01 floor price
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On the reaction day the stock moved 6.5 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The board opened a qualified institutional placement of face-value Rs 1 shares and approved the placement document and application form. The relevant date is October 29, 2026, and the floor price is Rs 127.01 per share. The company may offer a discount of up to 5 percent, subject to final pricing and investor allocation.
New share sales can dilute existing holders, while the possible 5 percent discount may weigh on the share price. Final price and allotments are not yet stated.