Latest news with #NavinFluorineInternationalLimited
Business Upturn
08-07-2025
- Business
- Business Upturn
Navin Fluorine shares rise nearly 3% after board approves Rs 750 crore QIP at Rs 4,798 floor price
By Aditya Bhagchandani Published on July 8, 2025, 09:24 IST Shares of Navin Fluorine International Limited gained almost 3% in early trade on Tuesday, July 8, following the company's announcement of a qualified institutions placement (QIP) to raise up to ₹750 crore. The stock climbed to ₹5,031.20, up ₹145.00 from its previous close of ₹4,886.20 on the NSE. The company's Board of Directors, in its meeting held on Monday, July 7, approved the opening of the QIP and adopted the preliminary placement document and application form. The floor price for the issue has been fixed at ₹4,798.28 per share, as per SEBI's ICDR Regulations. The board noted that the company may offer a discount of up to 5% on the floor price, with the final issue price to be determined in consultation with the book running lead manager. The board also decided to amend the agenda of its upcoming Annual General Meeting, removing an earlier resolution to raise up to ₹750 crore through equity or other instruments, as the QIP now addresses the funding need. The company highlighted that the trading window remains closed for designated persons from June 30 to August 1, 2025, in view of the upcoming quarterly results. Navin Fluorine's market capitalization stood at ₹248.59 billion, with a P/E ratio of 86.23 and a dividend yield of 0.24%. The stock touched an intraday high of ₹5,024.00 and a low of ₹4,926.00, staying above its previous close throughout the morning session. The QIP is expected to strengthen the company's balance sheet and support its future growth initiatives. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
07-07-2025
- Business
- Business Upturn
Navin Fluorine board approves Rs 750 crore QIP, sets floor price at Rs 4,798.28 per share
By Aditya Bhagchandani Published on July 7, 2025, 21:50 IST Navin Fluorine International Limited on Monday, July 7, announced that its Board of Directors has approved opening a qualified institutions placement (QIP) of equity shares to raise up to ₹750 crore. In a filing with BSE and NSE, the company said the board approved the opening of the issue and adopted the preliminary placement document and application form. The floor price for the QIP has been set at ₹4,798.28 per equity share, calculated as per SEBI's ICDR Regulations. The board has also fixed July 7, 2025, as the relevant date for the issue. As per shareholder approval obtained earlier, the company may offer up to a 5% discount on the floor price, and the final issue price will be determined in consultation with the book running lead manager. The board also resolved to amend the Notice of its upcoming AGM to remove an earlier agenda item on raising funds via equity or other instruments of up to ₹750 crore, as the QIP now addresses this requirement. The board meeting, which commenced at 4:30 PM and concluded at 5:15 PM IST, also noted that the trading window remains closed for designated persons from June 30, 2025, to August 1, 2025, in view of the upcoming financial results for the quarter ended June 30, 2025. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
