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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