Chennai-based education services company, EdServ Softsystems Ltd said it will open its qualified institutional placement (QIP) issue on 9th July.
The minimum floor price for the QIP issue has been fixed at Rs205 per share, higher than the price calculated as per Securities and Exchange Board of India (SEBI) (Issue of Capital and Disclosure Requirements) Regulation 2009. The proceeds of the QIP issue will be utilised to fund the company's plans in the schools segment.
The company plans to invest in several schools this year. The company shall decide on the closing date in due course.On Tuesday, EdServ Softsystems shares closed 3.4% down at Rs210 on the Bombay Stock Exchange, while the Sensex ended at 1% up at 17,614 points.
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