The Fund Raising Committee of the Board of Directors (Committee) of Phillips Carbon Black Limited have approved the closure of Qualified institutions placement of equity shares of face value of Rs. 2 each today (5th October, 2021), pursuant to the receipt of application forms and the funds in the escrow account from the eligible qualified institutional buyers in accordance with the terms of the Issue.

The board determined and approved the allocation of 16,393,442 Equity Shares at an Issue price of 244.00 per Equity Share which is at a discount of Rs. 11.85 per Equity Share i.e. 4.63% to the floor price of Rs. 255.85 per Equity Share, in accordance with the SEBI ICDR Regulations (including a premium of, 242 per Equity Share) upon the closure of the Issue, determined according to the formula prescribed under Regulation 176 of the SEBI ICDR Regulations, for the Equity Shares to be allotted to the eligible qualified institutional buyers in the Issue.

The committee approved and finalised the confirmation of allocation note to be sent to eligible qualified institutional buyers, intimating them of the allocation of Equity Shares pursuant to the Issue and approved and adoption of the placement document dated 5th October, 2021.