QIP Closed: 43,26,507 Shares Allotted at ₹3,467 Each, 4.97% Discount to Floor Price
The QIP closed on September 25, 2026.
By ScoutQuest · · 1 min read
- Shares Allocated
- 4,326,507 equity shares of face value ₹1 each
- Issue Price
- ₹3,467 per share
- Premium per Share
- ₹3,466 per share
- Floor Price
- ₹3,648.43 per share
- Discount to Floor Price
- ₹181.43 per share, i.e. 4.97%
What happened
The QIP Committee met on September 25, 2026 and approved the closure of the company's qualified institutions placement, after application forms and funds were received in the escrow account from eligible qualified institutional buyers.
The numbers
- Shares allocated: 4,326,507 Equity Shares of face value ₹1 each
- Issue price: ₹ 3,467 per Equity Share, including a premium of ₹3,466 per Equity Share
- Floor price: ₹ 3,648.43 per Equity Share
- Discount: ₹181.43 per Equity Share, i.e. 4.97% to the floor price
The issue price was determined using the formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations, which permits a discount of up to 5% to the floor price.
Other approvals
- Adoption of the Placement Document dated September 25, 2026, shared with the exchanges
- Finalisation of the Confirmation of Allocation Note (CAN) to be sent to eligible qualified institutional buyers
What it means for investors
A QIP is a fresh issue of shares to institutional investors. It brings new money into the company, and it also increases the total number of shares outstanding, which dilutes existing shareholders' proportionate holding. The pricing at a 4.97% discount to the floor price is the maximum discount allowed under the regulations.
The issue was carried out under Chapter VI of the SEBI ICDR Regulations and Sections 42 and 62 of the Companies Act, 2013. The meeting began at 09:00 pm (IST) and concluded at 09:30 pm (IST).
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QIP closed; 43,26,507 shares allotted at ₹3,467 each
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More numbers
- Equity shares allocated4,326,507 Equity Shares
- Issue price per share₹ 3,467 per Equity Share
- Premium per share₹3,466 per Equity Share
- Floor price per share₹ 3,648.43 per Equity Share
- Discount per share₹181.43 per Equity Share
- Discount to floor price4.97%
- Face value per share₹1 each
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