Stocks

Zydus Wellness raises ₹650 cr via QIP; issue price ₹1,690/share

Our Bureau Ahmedabad | Updated on September 29, 2020

Shares of Zydus Wellness closed flat on Tuesday, after the company fixed the issue price for qualified institutional buyers (QIBs) at ₹1,690 a share. The stock ended at ₹1,835 on BSE Tuesday, 0.26 per cent down from its previous close.

The company’s finance and administration committee on Monday approved the QIP issue-- allotment of 38.46 lakh equity shares to QIBs, aggregating to ₹649.97 crore.

Zydus Wellness shares on Tuesday traded range-bound, with an intra-day movement between ₹1,867.45 and ₹1,828.70. Trading volume was low on both the exchanges.

Ahead of the issue, the company's shares hit a 52-week high of ₹1,959 on September 21.

The issue was open for subscription between September 23 and September 28. Pursuant to the allotment of equity shares, the paid-up equity capital of the company rose to ₹63.63 crore from ₹59.78 crore, the company informed the exchanges.

QIBs, who have been allotted more than five per cent of the equity shares, included SBI Small Cap Fund, Aditya Birla Sun Life Trustee Private Limited, SBI Large & Midcap fund, ICICI Prudential Multicap Fund, HDFC Life Insurance Company Limited, ICICI Prudential Smallcap Fund.

Published on September 29, 2020

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