QIP Opens with Floor Price of Rs. 2,197.10 per Share
The Fundraise Committee has opened a Qualified Institutions Placement (QIP) of equity shares of face value ₹ 10 each on September 24, 2026.
By ScoutQuest · · 2 min read
- Floor Price
- Rs. 2,197.10 per Equity Share
- Face Value
- ₹ 10 each
- Maximum Discount
- Not more than 5% on floor price
- QIP Opening Date
- September 24, 2026
- Issue Price Approval Date
- September 25, 2026
What happened
Wheels India's Fundraise Committee met on September 24, 2026 and approved the opening of a Qualified Institutions Placement (QIP) of equity shares of face value ₹ 10 each, under Chapter VI of the SEBI ICDR Regulations and Sections 42 and 62 of the Companies Act, 2013.
The committee acted on board approvals dated July 10, 2026 and August 19, 2026, and shareholder special resolutions passed on August 12, 2026 (postal ballot) and September 17, 2026 (EGM).
Pricing
- Floor price fixed at Rs. 2,197.10 per Equity Share, computed using the pricing formula in Regulation 176(1).
- Relevant date for the floor price is September 24, 2026, the date the committee decided to open the Issue.
- The company may at its discretion offer a discount of not more than 5% on the floor price, as permitted by shareholders.
- The final Issue Price will be determined by the company in consultation with the lead manager.
Documents and process
The preliminary placement document dated September 24, 2026 and the application form of the same date were approved, to be sent to eligible qualified institutional buyers inviting bids and collecting application amounts. The preliminary placement document is being shared with the exchanges.
What comes next
A further committee meeting is scheduled on September 25, 2026 to consider and approve the Issue Price, including any discount, for shares to be allotted to qualified institutional buyers.
Trading window
The trading window is closed with immediate effect until 26.09.2026 for the purpose of the Issue.
How to read this
A QIP raises fresh capital by issuing new shares to institutional investors. New shares increase the total share count, which dilutes existing shareholders' proportionate holding. The size of the raise and the final price become clear once the Issue Price is approved. The committee meeting commenced at 6.15 P.M and concluded at 6.45 P.M.
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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 Allotment of 11,97,318 Shares at ₹2088 Each Raises Rs. 249,99,99,984
26 Sep 2026
More numbers
- Floor price per equity shareRs. 2,197.10 per Equity Share
- Face value per equity share₹ 10
- Maximum discount to floor pricenot more than 5%
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