Hi-Tech Pipes launches QIP worth ₹600 cr; stock gains 2%
The pipe manufacturer has set the floor price at ₹194.98 per share, a discount of 1.5% over Monday's closing level of ₹197.95 apiece.
The pipe manufacturer has set the floor price at ₹194.98 per share, a discount of 1.5% over Monday's closing level of ₹197.95 apiece.
The primary market saw a surge in momentum in the last two months, with 22 out of the 40 IPOs coming in August and September.
The QIP attracted a diverse pool of top-tier institutional investors and mutual funds, including prominent names like Goldman Sachs (Singapore), BNP Paribas Financial Markets ODI, Morgan Stanley Asia.
Budget airline has not officially announced the QIP size yet but said its board has approved raising of up to ₹3,000 crore
Brigade Enterprises has raised ₹1,500 crore by selling equity shares to institutional investors, while Prestige Estates garnered ₹5,000 crore via QIP.
The surge came after the aerospace and defence giant’s fundraising committee approved the QIP issue, setting the floor price at ₹1,685.18 per share with a potential discount of up to 5%.
On Wednesday, Adani Energy shares gained 3.9% to ₹1,169.40 on the BSE, after ending 6.95% higher in the previous session.
Cello World committee sets the QIP floor price at an 11% discount from yesterday's closing price.
The real estate major has raised over ₹13,000 crore of capital in the last 36 months.
Investors are showing interest in credit-based financial companies with strong profitability indicators, but they are still hesitant to make new investments until they gain more confidence.