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Salzer Electronics announced that in respect of the QIP, the Sub Committee (the "Committee") of the Company has at its meeting held on 21 July 2015, inter alia, approved the following:
1. Closure of the Bid on 21 July 2015.
2. The issue price of Rs. 235.00, after giving discount of 4.99% i.e. Rs. 12.33 per Equity Share, to the Floor Price of Rs. 247.33 per Equity Share as per the SEBI ICDR Regulations and shareholders' approval dated 10 July 2015, for the Equity Shares to be issued and allotted to eligible Qualified Institutional Buyers in the QIP; and
3. Approval of issue of Confirmation Allocation Note for the allocation of 26,41,000 Equity Shares to the Qualified Institutional Buyers.
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