The finance committee of Usha Martin in its meeting on 14 January 2010 has given the approval for raising an amount not exceeding Rs 500 crore by issue of fully paid equity shares of Re 1 each, to qualified institutional buyers (QIP Issue) in compliance with Chapter VIII and other applicable provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the SEBI Regulations) with a floor price of Rs 85.90 per share or such higher price as may be arrived at in consultation with the lead managers (LMs).
Source :www.biginfotech.in
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