Page 6 - Qip

Anant Raj raises Rs 500 cr via issue of shares to institutional investors

Realty firm Anant Raj Ltd has raised Rs 500 crore through issuance of shares to institutional investors on a private placement basis to reduce debt and meet working capital requirements. In a regulatory filing on late Thursday, the company informed that it had launched Qualified Institutional Placement (QIP) on January 12 and closed on January 18. The Finance and Investment Committee approved the allotment of 1,68,91,891 equity shares to eligible qualified institutional buyers at the issue price of Rs 296 per equity share, aggregating to about Rs 500 crore. The shares have been issued to Tata Indian Opportunities Fund, Tata Mutual Fund-Tata ELSS Tax Saver Fund, Bofa Securities Europe, Aditya Birla Sun Life Insurance Company, Discovery Global Opportunity (Mauritius), Aditya Birla Sun Life Trustee, Mahindra Manulife Small Cap Fund, and Mahindra Manulife Business Cycle Fund. In November last year, Anant Raj Ltd planned to raise up to Rs 500 crore through issuance of securities to ...

Steel products manufacturer Goodluck India raises Rs 200 crore via QIP

Steel products maker Goodluck India Ltd on Thursday said it has raised around Rs 200 crore through issue of equity shares on Qualified Institutional Placement (QIP) basis. Its board on Wednesday approved the issue and allotment of 21,27,659 equity shares to Qualified Institutional Buyers (QIBs) at an issue price of Rs 940 per share at a premium of Rs 938 per share, aggregating to nearly Rs 200 crore, the company said in a statement. Goodluck India successfully raised nearly Rs 200 crore in the QIP round, it said. MC Garg, Chairman of Goodluck India, said, "The recently concluded round of fundraising is well in line with the company's growth strategy." The company also floated a wholly-owned subsidiary, Goodluck Defense and Aerospace Private Limited, which will cater to the extensive needs of the defence and aerospace industries. Goodluck India manufactures a wide range of engineered steel structures, precision/auto tubes, forging for defence and aerospace, CR (cold rolled) product

Capacit'e Infra raises Rs 200 cr via QIP route for working capital needs

Capacit'e Infra on Friday said that it has raised Rs 200 crore through issuance of Qualified Institutional Placement (QIP). The proceeds from the QIP will be utilised for funding working capital requirements and other general corporate purpose of the company, Capacit'e Infra said in a statement. "Capacit'e Infraprojects announces the successful completion of its fundraise of Rs 200 crore through a QIP. The book was subscribed more than four times and witnessed traction from a diversified set of investors," it said. The company's QIP committee approved the issue allotment of 79,47,546 equity shares of face value of Rs 10 each to 24 Qualified Institutional Buyers (QIBs) at an issue price of Rs 251.65 per equity share (including a premium of Rs 241.65 per equity share). Capacit'e Infra Executive Director Rohit Katyal said, "We witnessed a positive response to our QIP. It reflects the trust investors have in our potential. The funds raised through this QIP shall empower us to accelerat

Shyam Metalics and Energy Limited raises Rs 1385 crore through QIP

City-based Shyam Metalics and Energy Limited (SMEL) announced that it has raised Rs 1,385 through Qualified Institutional Placement (QIP). The QIP Committee at its meeting approved the issue allotment of 24,051,165 equity shares of face value of Rs 10 each to 38 Qualified Institutional Buyers (QIBs) at an issue price of Rs 576 per equity share (including a premium of Rs 566 per share), the company informed bourses on Wednesday. The allotment completes our dilution as per minimum public shareholding requirements prescribed by SEBI, the company said. The company achieved a CAGR exceeding 15 per cent in the past and anticipated sustaining the same growth trajectory. Additionally, the company do not have any plans for additional dilution over the next few years, officials said. "The funds raised will bring down the working capital limits availed by the company from banks and we remain a net positive company as it is poised to become a net debt-free company to accelerate our growth ...

PNB gets board approval to raise Rs 7,500 crore through QIP or FPO

Punjab National Bank on Thursday said its board has approved a proposal to raise Rs 7,500 crore capital through QIP or FPO. The fundraising exercise will be done in one or more tranches during the next financial year, the state-owned bank said in a late-evening regulatory filing. The board of directors, during a meeting on Thursday, approved the proposal for raising equity capital for an amount aggregating up to Rs 7,500 crore in one or more tranches during 2024-25 through Qualified Institutional Placement (QIP) or Follow-on Public Offering (FPO) or any other permitted mode or a combination, it said.

Fundraising through QIP shines, companies garner Rs 50,200 cr in 2023

Fundraising through the issuance of shares to institutional investors skyrocketed, as companies raked in Rs 50,218 crore in 2023, marking a six-fold surge from the previous year and indicating a positive outlook among investors. Apart from QIPs, fund mobilisation through rights issue of shares and OFS (Offer-for-Sale) route too surged in 2023, as compared to last year. Market experts attributed the primary reason for the increase in Qualified Institutional Placement (QIP) fundraising to the market and investor sentiments that play an important role in their success. As long as positive market vibes persist, and investors continue to reap returns, listed companies lean towards opting for fundraising through QIP as this avenue ensures swift access to funds, they added. According to data by the National Stock Exchange (NSE), companies collected Rs 50,218 crore through QIPs in 2023, which was way higher than Rs 8,196 crore raised in the preceding year. Bajaj Finance Ltd spearheaded th

IFSCA may allow Indian listed firms to launch QIP, tax sops for listing

Suggests tax sops for direct listing

Fundraising through rights issues sprint in 2023, but QIPs maintain lead

Year sees revival in rights issues, with 11 companies raising Rs 7,168 crore, eclipsing previous year's total of Rs 3,884 crore by 10 companies

Banks lead QIP revival in 2023: Listed cos raised Rs 53,070 cr so far

The good run of QIPs is also expected to spill into the next year, particularly in the run-up to the general elections in April-May next year

Kaynes Tech begins Rs 1,400 cr QIP; to acquire US-based firm for $2.5 mn

The QIP floor price is set at Rs 2,449.96 per share, and issue price will be determined after a committee meeting on December 21

Sterling and Wilson Renewable Energy raises Rs 1,500 crore through QIP

Proceeds will be used to reduce debt and capitalise on the solar engineering, procurement, and construction (EPC) markets in India and overseas

MapmyIndia board approves Rs 500 cr fundraise plan by way of QIPs

MapmyIndia board has approved the company's plan to raise Rs 500 crore, Homegrown navigation services firm said in a regulatory filing on Monday. CE Info System, which operates under the brand name of MapmyIndia, will need to seek shareholders' nod and other statutory approval before fundraise through equity dilution. The company said the board has approved "raising of funds by way of issuance of such number of equity shares having a face value of Rs 2 each of the company (equity shares), for an aggregate amount not exceeding Rs 500 crore or an equivalent amount thereof by way of Qualified Institutional Placement (QIP) in accordance with the applicable laws". The company's board also approved constitution of a committee for all matters relating to the fundraising through QIP.

Titagarh Rail plans to raise up to Rs 700 cr via QIP, seeks JV partner

Engineering company Titagarh Rail Systems Ltd on Wednesday said it plans to raise up to Rs 700 crore through a Qualified Institutions Placement (QIP) and seeks a strategic partner for the shipbuilding, bridges, and defence business. In a regulatory filing, the company said proceeds from the QIP will be used to strengthen the company's position in its core businesses and to fund future growth initiatives. The company will seek the requisite approval from its shareholders for the QIP issue. Its board approved the QIP plan at its meeting and also constituted a committee for scouting a partner for the Shipbuilding, Bridges and Defence (SBD) business. Currently, wagons and rail passenger coaches are its core operation and are foraying into railway wheels through a joint venture. The company in June had also approved raising Rs 288.80 crore through preferential allotment of shares to Smallcap World Fund Inc., resulting in a 5.98 per cent stake in the wagon maker. In addition to the QIP,

Bajaj Finance sets base price for Rs 8,800-crore QIP at Rs 7,250 per share

The NII for the reported quarter improved by 26 per cent to Rs 8,845 crore from Rs 7,002 crore in the same period a year ago

Fundraising through QIPs surges; 20 companies raise Rs 18,400 cr in H1FY24

Fundraising through the issuance of shares to qualified institutional investors has seen hectic activity in the first half of the current fiscal year (FY24), with 20 companies mobilising over Rs 18,400 crore, more than four-fold from the year-ago period, on positive investors' sentiments. Moreover, the robust trend of Qualified Institutional Placements (QIPs) in the first half of the fiscal year 2023-24 is expected to persist throughout the second half of the year too, Sanjay Moorjani, Research Analyst at SAMCO Securities, told PTI. Prashant Rao, Director and Head of Equity Capital Markets, Anand Rathi Investment Banking, said that market and investor sentiments play an important role for these issuances. Till the time market sentiments are positive and investors are earning returns, listed companies would prefer to raise funds through QIP which allows them to have faster access to funds. "We believe the second half of this year also to be positive for QIP issuances," he ...

Bajaj Finance to raise Rs 10,000 crore through QIP, preferential issue

The company said it will raise up to Rs 8,800 crore of capital through qualified institutional placement of shares

Jupiter Wagons gets board's nod to raise Rs 700 crore through QIP route

Mobility solutions provider Jupiter Wagons Limited (JWL) on Tuesday said it has received the board's approval to raise Rs 700 crore through the Qualified Institutional Placement (QIP) route. The funds will be raised through the issuance of equity shares, with a total value of Rs 700 crore. The move is aimed at bolstering JWL's resources for expansion, subsidiary investments, joint ventures, capital adequacy enhancement, and various manufacturing plans, it said in a statement. "The objective (of raising funds) is to further strengthen the company's financial position and solidify our market presence and leadership position," said JWL Managing Director Vivek Lohia. The funds will also be used to ramp up wagon manufacturing capacity, new foundry plant at Jabalpur wagon facility, expansion of existing foundry plant at Kolkata wagon facility, and backward integration of wagon business, Lohia added.

Union Bank on India to raise up to Rs 5,000 cr through QIP of equity shares

Union Bank of India on Monday said it will raise up to Rs 5,000 crore through qualified institutional placement. A Committee of Directors on Raising Capital Funds has, at its meeting held on Monday i.e. August 21, 2023, approved the raising of funds for an amount not exceeding Rs 5,000 crore through the issue of equity shares through Qualified Institutions Placement (QIP), Union Bank said in a regulatory filing. The floor price of the issue is Rs 91.10 per equity share, while the date of opening of the issue is Monday, the bank added.

Federal Bank raises Rs 3,099 cr via QIP route to fund business growth

Private sector lender Federal Bank on Tuesday said it has raised Rs 3,099 crore through qualified institutional placement route to fund business growth. The board approved the allotment of 23.04 crore shares with a face value Rs 2 each to eligible qualified institutional buyers at an issue price of Rs 131.90 per unit, including a premium of Rs 129.90 per share, reflecting a discount of Rs 0.69 (0.52 per cent) on the floor price of Rs 132.59, Federal Bank said in a regulatory filing. Last week, the board had fixed a floor price of Rs 132.59 per equity share for the Qualified Institutional Placement (QIP). Following the allotment of shares, the paid-up equity share capital of the bank stands increased from Rs 4,23,63,28,436 crore comprising 2,11,81,64,218 shares to Rs 4,697,283,704 crore, consisting of 2,348,641,852 shares, it said. The bank had posted a 42 per cent rise in net profit at Rs 1,147 crore for the June quarter, as against Rs 807 crore in the year-ago period. The total

Federal Bank fixes floor price of Rs 132.59 per equity share for QIP

Private sector lender Federal Bank on Wednesday said the board has a fixed floor price of Rs 132.59 per equity share for its proposed Qualified Institutional Placement (QIP). Pursuant to regulation, the bank may at its discretion offer a discount of not more than 5 per cent on the floor price calculated for the issue, Federal Bank said in a regulatory filing. The bank had posted a 42 per cent rise in net profit at Rs 1,147 crore for the June quarter as against Rs 807 crore in the year-ago period. Total income in the first quarter of the current fiscal rose to Rs 5,757 crore from Rs 4,081 crore in the same period a year ago.