QIP closed: ~76.84 lakh equity shares allotted at 5,550.00 per share, a 3.66% discount to the floor price
Special Committee of the Board met on October 26, 2026 and approved closure of the issue.
By ScoutQuest · · 2 min read
- Equity Shares Allotted
- ~76.84 lakh equity shares allotted to eligible qualified institutional buyers
- Issue Price
- 5,550.00 per equity share
- Discount to Floor Price
- INR 211.00 per share, i.e. 3.66%, to the floor price of INR 5,761.00
What the committee approved
The Special Committee of the Board met on October 26, 2026 and approved the closure of the issue, after application forms and funds were received in the escrow account from eligible qualified institutional buyers.
Key numbers
- ~76.84 lakh equity shares allotted to eligible qualified institutional buyers.
- Issue price: 5,550.00 per equity share.
- Discount to the floor price: INR 211.00 per equity share, i.e. 3.66%.
- Floor price: INR 5,761.00 per equity share.
- Premium over face value: INR 5,545.00 per equity share.
What this means for a retail investor
- These shares are being issued to institutional buyers, not to existing retail shareholders. So retail holdings are not bought or sold here, but the total number of shares in the company goes up.
- When new shares are issued, existing shareholders own a slightly smaller slice of the company than before. This is called dilution. The update states the number of shares allotted, which is the figure to track.
- The shares were placed at 5,550.00, which is 3.66% below the floor price of 5,761.00. The floor price is the minimum reference price calculated under the SEBI ICDR Regulations; the rule allows a discount within the permitted limit, and the update notes this discount.
- The money raised goes to the company, and the shares allotted add to its equity share capital. The proceeds are a funding event for the company rather than a sale by existing shareholders.
Other decisions taken
- The Placement Document dated October 26, 2026 was approved and adopted.
- The confirmation of allocation note to be sent to eligible qualified institutional buyers was approved and finalised.
- Issuance of a refund intimation letter to bidders entitled to a refund was approved.
The Placement Document dated October 26, 2026 will be shared with the stock exchanges and made available on the company's website under its Qualified Institutional Placement (QIP) documents section.
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More numbers
- Equity shares allotted7,683,981 Equity Shares
- Issue price per equity share5,550.00 per Equity Share
- Discount to floor price per shareINR 211.00 per Equity Share
- Discount to floor price3.66%
- Floor price per equity shareINR 5,761.00 per Equity Share
- Premium per equity shareINR 5,545.00 per Equity Share
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