QIP Allotment of 11,97,318 Shares at ₹2088 Each Raises Rs. 249,99,99,984
The Fund Raise Committee approved allotment of 11,97,318 equity shares (face value ₹10) to qualified institutional buyers at ₹2088.00 per share.
By ScoutQuest · · 2 min read
- Shares Allotted
- 11,97,318 equity shares
- Issue Price
- ₹2088.00 per share
- Total Amount Raised
- Rs. 249,99,99,984
- Paid-up Capital Increase
- From Rs. 256650430 to Rs. 268623610
- Share Count Increase
- From 25665043 to 26862361 shares
What happened
The Fund Raise Committee met on September 25, 2026 and approved the issue and allotment of 11,97,318 equity shares of face value ₹ 10 each to eligible qualified institutional buyers under a Qualified Institutions Placement (QIP).
Pricing and size
- Issue price: Rs. 2088.00 per equity share, including a premium of ₹ 2078.00 per share.
- The price included a discount of Rs. 109.10, which is 4.97% of the floor price.
- Total amount raised: Rs. 249,99,99,984.
- The Issue opened on September 24, 2026 and closed on September 25, 2026.
Effect on share capital
Paid-up equity share capital increases from Rs. 256650430 (25665043 shares) to Rs. 268623610 (26862361 shares) of face value Rs. 10 each. The newly issued shares are about 4.5% of the enlarged share count, so existing shareholders' ownership percentage is diluted to that extent, while the company receives fresh funds.
Who got the shares
Allottees receiving more than 5% of the shares offered in the Issue
- Aditya Birla Sun Life Bal Bhavishya Yojna: 67,051 shares (5.60%)
- Aditya Birla Sun Life Special Opportunities Fund: 1,20,689 shares (10.08%)
- Aditya Birla Sun Life Small Cap Fund: 1,47,509 shares (12.32%)
- Magnum Equity Ex-Top 100 Long Short Fund: 167624 shares (14.00%)
- SBI Balanced Hybrid Fund: 167625 shares (14.00%)
- Altiva Hybrid Long-Short Fund: 119731 shares (10.00%)
- WhiteOak Capital Multi Cap Fund: 31130 shares (2.60%)
- WhiteOak Capital Flexi Cap Fund: 64655 shares (5.40%)
- Ashoka India Equity Investment Trust PLC (Foreign Portfolio Investor): 95785 shares (8.00%)
How investors may read it
Participation by several domestic mutual fund schemes and a foreign portfolio investor is often seen as institutional interest in the company. The offsetting consideration is the increase in the number of shares outstanding. The shareholding pattern before and after the Issue will be submitted along with the listing application.
Also from Wheels India
ICRA upgrades Wheels India to [ICRA]A+/Stable from [ICRA]A; short-term rating raised to [ICRA]A1
24 Oct 2026
Conference call with fund managers and analysts scheduled for October 29, 2026
23 Oct 2026
QIP Closed; 11,97,318 Shares Allotted at Rs. 2088 per Share, 4.97% Discount to Floor Price
26 Sep 2026
More numbers
- Equity shares allotted11,97,318 Equity Shares
- Issue price per shareRs. 2088.00 per Equity Share
- Premium per share₹ 2078.00
- Discount per shareRs. 109.10
- Discount to floor price[4.97]% of the floor price
- Total issue proceedsRs. 249,99,99,984
- Paid-up capital before IssueRs. 256650430
- Shares before Issue25665043 Equity Shares
- Paid-up capital after IssueRs.268623610
- Shares after Issue26862361 Equity Shares
- Face value per share₹ 10 each
- Largest single allotment (Magnum/SBI schemes)167625
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