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The board of Vardhman Special Steels on Monday announced the closure of its qualified institutional placement issue and approved the issue price of ₹130 a share. The QIP price is at a discount of 4.18 per cent to the floor price of ₹146.11, determined by it earlier. Earlier, the company’s board and its shareholders’ had approved a proposal to raise ₹175 crore. The stock of Vardhman Special Steels slipped 1 per cent at ₹144.85 on the NSE.
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