QIP

IPO mop-up down 52%; QIPs plunge 92%

Delhi-based group expects to resume lending by Religare Finvest Ltd, a wholly-owned subsidiary

State-owned bank may come out with qualified institutional placement of equity shares in the last quarter of FY23

Some investment bankers argued that the reason for tepid fundraising through QIPs and rights could also be due to the fact that companies this year were not in need of large capital

Macrotech Developers' promoters have raised Rs 3,547 crore by selling shares around 7.2% of the company's equity share capital to institutional investors at the offer price of Rs 1,026 per share

Drug firm Orchid Pharma on Thursday said its board has approved to raise Rs 500 crore from institutional investors. The company's board has approved a Qualified Institutional Placement (QIP) programme to raise Rs 500 crore, it said in a regulatory filing. With this QIP, the Dhanuka group, which took over the company in 2018, is also meeting its mandatory obligation to dilute 15 per cent stake in it by March 2023. Post a successful turnaround of the Insolvency Bankruptcy Code case, the company has been on a growth spree, it said. On the back of a robust product launch pipeline and an agile management team, the company said it is poised to become an even stronger player in the Cephalosporin antibiotics space.

Disclosures around utilisation of issue proceeds not as exhaustive as IPOs: Rating agencies

Mop-up Rs 2,867 cr in CY22, as against Rs 25,335 cr in same period last yr

Ujjivan Small Finance Bank (SFB) on Monday launched its QIP (Qualified Institutional Placement) with a floor price of Rs 21.93 per share to meet the regulatory requirement ahead of merger with its parent company. In February this year, the lender had informed raising of up to Rs 600 crore by issuing shares to qualified institutional buyers in order to meet the regulatory requirements for amalgamation with its parent firm Ujjivan Financial Services. The Merger and Placement Committee of the board has, at its meeting held on September 12, 2022, passed resolutions for authorising the opening of the issue today and approved the floor price for the issue at Rs 21.93 per equity share, Ujjivan SFB said in a regulatory filing. Floor price refers to the minimum price in a share issuance programme. Ujjivan SFB said a meeting of the Merger and Placement Committee of the board is scheduled to be held on September 15, 2022 to consider and approve the issue price, including any discount. An ...

During the quarter under review, the bank's total income dipped to Rs 5,028 crore as against Rs 5,607 crore during the April to June quarter of 2021-22

AU Small Finance Bank on Wednesday opened its qualified institutional placement (QIP) to raise up to Rs 2,500 crore, setting the floor price for the issue at Rs 590.84 per share. The decision was taken at a meeting of the bank's capital raising committee. On April 29, 2021, AU Small Finance Bank had announced its plan to raise up to Rs 2,500 crore by issuing equity shares through a QIP. The floor price set for the QIP is lower than the stock's closing price of Rs 609.35 on BSE on Wednesday. "Further, we would like to inform you that a meeting of the capital raising committee of the bank is scheduled to be held on August 8, 2022 to consider and determine the issue price of equity shares to be issued...including a discount on the floor price, if any," AU SFB said in a regulatory filing. Separately, the company said its promoter and MD and CEO Sanjay Agarwal intends to sell up to 75 lakh equity shares of the bank, subject to requisite approvals. "I along with members of promoter gro

Slumps over 80%; titans of India Inc in wait-and-watch mode to see how economy navigates a torrent of headwinds

In the past three months, the stock has outperformed the market by surging nearly 30 per cent, as compared to 0.61 per cent rise in the S&P BSE Sensex

Equitas Small Finance Bank (SFB) on Friday said it has fixed the price for its proposed QIP issue at Rs 53.59 per share. The bank in October 2021 had said that it will raise up to Rs 1,000 crore through a qualified institutional placement (QIP) in order to fulfil the regulatory norms regarding minimum public shareholding. The decision was taken by the merger committee of the board of directors at its meeting held on February 18, 2022, Equitas SFB said in a regulatory filing. The committee approved the closure of the issue period for the issue today, ie, February 18, 2022. The committee determined and approved the issue price of Rs 53.59 per equity share, which takes into account a discount of 4.98 per cent to the floor price of Rs 56.40 per equity share, it said. Equitas Holdings Ltd had 81.36 per cent stake in Equitas SFB as of December 31, 2021. As per RBI guidelines for SFBs, if a promoter holds more than 40 per cent stake in the subsidiary, it should be brought down to 40 per

Close to 34 million new shares will be issued; BofA Securities, JP Morgan and Kotak Mahindra Capital are the investment banks handling the share sale

Stock of the firm closed with a gain of about one per cent at Rs 67.3 per share on the BSE on Monday. Its capital adequacy ratio stood at 24.07 per cent at the end of June

Currently, it has 6.9 million (mn) sq. ft of malls in cities such as Mumbai, Pune, and Beng­aluru, among others

It is keen on bringing the holding down to 75%, which Sebi has been advising, the bank's MD and CEO Atanu Kumar Das said

Experts say RBI won't allow Rs to appreciate out of sync with Asian currencies

Rakesh Jhunjhunwala has picked a 1.59 per cent stake in the state-owned lender