The pharmaceutical business authorized the issuance of 92.85 lakh equity shares at an issue price of Rs 517 per share, which represents a 5% discount to the QIP floor price of Rs 544.02 per share. On March 26, the company closed its QIP.
Prashant Jain, a former veteran of HDFC Mutual Fund, oversaw 3P India Equity and Madhusudan Kela’s Cohesion MK. Institutions that received at least five percent of the QIP were recognized for having the best ideas.
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Stock Market LIVE Updates | Wockhardt stock locked in 5% upper circuit investment boost in QIP
Following the company's Rs 480-crore Qualified Institutional Placement (QIP), funds owned or controlled by renowned investors Madhusudan Kela and Prashant Jain invested, Wockhardt's shares were stuck in the 5% upper circuit at Rs 557.85 apiece on the NSE on March 27.
