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The board of directors of NCC on Wednesday approved the opening of the qualified institutional placement issue today and adopting the preliminary placement document. The board has approved the floor price for the QIP at ₹129.47. The QIP committee of the board of directors may, at its absolute discretion, offer a discount of not more than 5 per cent on the QIP floor price to qualified institutional buyers. Shares of NCC closed at ₹126.20, down 0.4 per cent, on the NSE. The board of NCC, in December 2017, had approved raising up to ₹550 crore in equity through a QIP.
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