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Varun Beverages has informed the exchanges that the QIP committee on Friday approved the closure of the issue. The committee has fixed the issue price at ₹612 a share, as against the floor price of ₹644.08. The company will allot the shares to the eligible qualified institutional buyers.
Earlier, the company’s board in February had approved the raising of capital up to ₹1,500 crore through a qualified institutions placement. Shares of Varun Beverages closed at ₹631.55 on the BSE.
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