Cemindia Projects opens a qualified institutions placement with a floor price of ₹1,158.58 per share
- Capital raise
- Construction
Cemindia Projects Limited, formerly ITD Cementation India Limited, has told the exchanges that its Management Committee, at a meeting on 14 Oct 2026 that ran from 6:25 PM to 6:41 PM, opened a qualified institutions placement (QIP) of equity shares of ₹1 face value. The committee approved a floor price of ₹1,158.58 per equity share and adopted the preliminary placement document dated 14 Oct 2026 and the application form.
The issue follows an approval by the board on 23 Jul 2026 and a special resolution of the members on 17 Aug 2026. The relevant date for pricing is 14 Oct 2026, and the floor price is set by the formula in the SEBI issue regulations. The company may offer a discount of up to 5% on the floor price. SBI Capital Markets Limited, ICICI Securities Limited and IIFL Capital Services Limited are the book running lead managers.
The issue price will be fixed by the company with the lead managers. The company says it will file the preliminary placement document with BSE and NSE, and that the shares have not been and will not be registered under the US Securities Act of 1933.
Inference
A floor price is the lowest price at which the shares can be sold in the placement. With a permitted discount of up to 5%, the final issue price could be slightly below ₹1,158.58.
The filing does not state the size of the issue or the use of the proceeds, which are given in the placement document. The final price and the number of shares will be known only when the issue closes.
Reference: Original filing (PDF)
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