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Fiem Industries raises Rs 120 cr via private placement

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.

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