QIP Opens with Floor Price of Rs.174.36 per Equity Share
The QIP opened on 24th September, 2026.
By ScoutQuest · · 1 min read
- QIP Opening Date
- 24th September, 2026
- Floor Price per Share
- Rs.174.36 per Equity Share (face value Rs. 10 each)
- Discount Permitted
- Up to 5% on the floor price may be offered at the company's discretion
- Preliminary Placement Document
- Dated 24th September, 2026
What was decided
The Operations Committee of the Board met on 24th September, 2026 and authorised the opening of the Qualified Institutions Placement (QIP) of equity shares of face value Rs. 10 each on the same day.
- Floor price approved at Rs.174.36 per Equity Share, computed under the SEBI ICDR pricing formula.
- The 'relevant date' for pricing was fixed as 24th September, 2026.
- The preliminary placement document dated 24th September, 2026, along with the application form, was approved and adopted.
- The company may, at its discretion, offer a discount of not more than 5% on the floor price.
- The final issue price will be determined by the company in consultation with the book running lead manager.
Approvals behind it
The Board approved the issue at its meeting on 22nd July, 2026, and shareholders passed a special resolution at the Extra-ordinary General Meeting held on 13th August, 2026.
Trading window
Under the company's insider trading code, the trading window for designated persons and their immediate relatives is closed from 24th September, 2026 until 48 hours after the issue price is determined.
What it means for investors
A QIP raises fresh capital by issuing new shares to qualified institutional buyers. This increases the total number of shares outstanding, so existing shareholders' holdings can get diluted once shares are allotted. The size of the raise and the final price are yet to be announced. The meeting began at 3:45 P.M. and concluded at 4.30 P.M.
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More numbers
- Floor price per equity shareRs.174.36
- Face value per equity shareRs. 10
- Maximum discount to floor price5%
- Trading window closure after price determination48 hours
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