Tinna Rubber and Infrastructure Limited has informed the Exchange about General Updates for outcome of fund raising committee meeting held on today i.e. June 24, 2025 inter-alia to consider and approve QIP and other related matters
TINNARUBR · price
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Tinna Rubber and Infrastructure Limited's Fund Raising Committee met on June 24, 2025, and approved the opening of a Qualified Institutions Placement (QIP) of equity shares. The floor price has been set at ₹934.73 per share (face value ₹10), determined under the SEBI ICDR pricing formula. The company retains the discretion to offer a discount of up to 5% on the floor price when finalising the issue price. The QIP was earlier approved by the board on February 8, 2025, and by shareholders via postal ballot on March 14, 2025. The final issue price will be decided in consultation with the book running lead managers.
Existing shareholders may face equity dilution as new shares will be allotted to institutional investors. The stock could see short-term pressure depending on the final issue price (after any discount) and the level of institutional demand.