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HomeMarket NewsWockhardt raises ₹1,000 crore by selling shares to institutions — Find out the list of allottees
The Wockhardt fund raise comes after the stock has risen nearly 160% so far in 2024.
By Shloka Badkar November 12, 2024, 8:51:50 AM IST (Published)
Drug manufacturer Wockhardt Ltd. has raised ₹1,000 crore through a Qualified Institutional Placement (QIP), by selling shares to eligible institutions, it said in an exchange filing on Monday evening.
The company will issue 90.49 lakh shares to eligible institutions at an issue price of ₹1,105 per share, which is a 4.93% discount to the floor price of the QIP.
Wockhardt had launched its institutional share sale last week, fixing its floor price at ₹1,162.25 per share.
Tata Mutual Fund - Tata Small Cap Fund, HDFC Large and Mid Cap Fund, Bandhan Balanced Advantage Fund, HSBC Small Cap Fund, SBI General Insurance Company Ltd, ITI Multi Cap Fund, Invesco India Contra Fund, ICICI Prudential Regular Savings Fund are among those allotted more than 5% of the equity shares in the QIP.
| Fund/Company name | % of shares allotted |
| Tata MF | 17.50% |
| HDFC MF | 17.00% |
| Bandhan MF | 12.00% |
| SBI General Insurance Company Ltd | 8% |
| ITI MF | 7% |
| Invesco India MF | 7.00% |
| ICICI Prudential MF | 5.00% |
With the allotment of equity shares under the issue, the company's paid-up equity share capital is now 16.23 crore shares worth ₹81.23 crore with a face value of ₹5 each, from the previous 15.34 crore shares worth ₹76.71 crore with equity shares of ₹5 each.
Wockhardt Ltd shares ended 1.32% lower at ₹1,220 apiece on Monday, November 11. The stock has gained 159.74% this year, so far.
