Hitachi Energy slips 3% after launching QIP at floor price of Rs 12,112.5

Hitachi Energy India shares slipped 3.3 per cent on BSE, logging an intraday low at Rs 12,289 per share. The southward movement in the stock came after the company launched its qualified institutional placement (QIP). The floor price for the QIP is set at Rs 12,112.5 per share which translates to a discount of over 4 per cent on the previous close at Rs 12,715.35 per share. 

 

Around 11:35 AM, Hitachi Energy share price was down 3.35 per cent at Rs 12,289 per share on BSE. In comparison, the BSE Sensex was down 0.26 per cent at 73,924.64. The market capitalisation of the company stood at Rs 52,082.84 crore. The 52-week high of the stock was at Rs 16,534.5 per share and the 52-week low was at Rs 6,267.2 per share. 

 

"We further wish to inform you that the Fund Raise Committee has fixed the 'Relevant Date' for the purpose of the Issue, in terms of Regulation 171 of the SEBI ICDR Regulations, as March 10, 2025, and accordingly the floor price in respect of the aforesaid Issue is calculated based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is Rs 12,112.5 per equity share," filing read.  

 

The company will be raising funds aggregation worth Rs 4,200 crore through the QIP, as informed by the company via a filing on January 18, 2025. 

 

A" meeting of the board of directors of the company was held as scheduled today i.e. Saturday, January 18, 2025, at which it considered and approved the proposal for raising of funds either by way of issuance of Equity Shares and/or other securities including securities convertible into Equity Shares, warrants or fully convertible debentures, partly convertible debentures, non-convertible debentures along with warrants, or convertible preference shares (collectively “Securities”), for an aggregate amount not exceeding Rs 4,200 crore, by way of public issue, rights issue, preferential allotment, private placement, including Qualified Institutions Placement(s) (‘QIP’)," the filing read. 

 

In the past one year, Hitachi Energy shares have gained 94 per cent against Sensex's rise of 0.8 per cent.