QIP Closed; 11,97,318 Shares Allotted at Rs. 2088 per Share, 4.97% Discount to Floor Price
The Fundraise Committee met on September 25, 2026 and approved closure of the Qualified Institutions Placement (QIP).
By ScoutQuest · · 2 min read
- Shares Allocated
- 11,97,318 Equity Shares of face value ₹ 10 each
- Issue Price
- Rs. 2088/- per Equity Share (premium of Rs. 2078/-)
- Floor Price
- Rs. 2197.10 per Equity Share
- Discount to Floor Price
- Rs. 109.10 per share, i.e. 4.97%
- QIP Closure Date
- September 25, 2026
What happened
The company's Fundraise Committee met on September 25, 2026 and closed its Qualified Institutions Placement (QIP) of equity shares, carried out under Chapter VI of the SEBI ICDR Regulations and Sections 42 and 62 of the Companies Act, 2013. The Issue had opened on September 24, 2026, and was closed after application forms and funds were received in the escrow account(s) from eligible qualified institutional buyers.
The numbers
- Shares allocated: 11,97,318 Equity Shares of face value ₹ 10 each
- Issue price: Rs. 2088/- per Equity Share, including a premium of Rs. 2078/- per equity share
- Floor price: Rs.2197.10 per Equity Share
- Discount: Rs.109.10 per Equity Share, i.e. 4.97% to the floor price
The floor price was determined using the formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations, and the discount is within what those regulations permit.
Other approvals at the meeting
- Closure of the Issue on September 25, 2026
- Adoption of the Placement Document dated September 25, 2026
- Finalisation of the confirmation of allocation note to be sent to eligible qualified institutional buyers
- Issuance of refund intimation letters to bidders entitled to a refund, if any
The meeting commenced at 7.45 P.M and concluded at 8.00 P.M.
Insider trading window
Under the company's Code of Conduct for Prevention of Insider Trading, the trading window for designated persons had already been closed from September 24, 2026 till 48 hours for the purpose of this QIP.
What it means for investors
A QIP is a way for a listed company to raise fresh capital by issuing new shares to institutional investors. Fresh shares being issued increases the total share count, so existing shareholders' proportionate holding is diluted; at the same time the company receives new funds. The pricing at a 4.97% discount to the floor price indicates the terms at which institutional buyers subscribed. Allotment of the shares is the next step once the process is completed as set out in the Placement Document.
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More numbers
- Equity shares allocated in QIP11,97,318 Equity Shares
- Issue price per equity shareRs. 2088/- per Equity Share
- Premium per equity shareRs. 2078/- per equity share
- Face value per equity share₹ 10 each
- Discount per equity share to floor priceRs.109.10 per Equity Share
- Discount to floor price4.97%
- Floor price per equity shareRs.2197.10 per Equity Share
- Trading window closure duration48 hours
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