Fiem Industries Ltd. said it raised Rs 120 crore by placing 12 lakh shares with qualified institutional buyers. The shares were priced at Rs 1002 each.
Fiem manufacturers automotive lighting & signaling equipments and rear view mirrors. Most of its revenue comes from the two-wheeler segment of the vehicle industry.
The company´s shares had closed at 1053.70 on Friday. Today they fell by Rs 4.75.