Tinna Rubber and Infrastructure Limited has informed the Exchange about institutional Placement Programme for outcome of the Fund Raising Committee meeting held on today i.e. June 27, 2025 inter alia to consider and approve the closure of QIP issue and other related matters
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Tinna Rubber and Infrastructure Limited has closed its Qualified Institutional Placement (QIP) issue on June 27, 2025. The company allotted 8,86,257 equity shares at ₹888 per share, which includes a premium of ₹878 over the face value of ₹10. The issue price was set at a 5% discount (₹46.73 per share) to the floor price of ₹934.73 determined as per SEBI ICDR regulations. The total funds raised through the QIP come to approximately ₹78.7 crores. Funds were received in the escrow account from eligible qualified institutional buyers, and the placement document has been finalized and uploaded on the company's website.
Existing shareholders will see a modest equity dilution from the ~8.87 lakh new shares issued. The company raises around ₹78.7 crores, strengthening its capital base for growth or debt reduction. The 5% discount to floor price is within permissible SEBI limits and is a standard market practice in QIP issuances.