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Biocon launches QIP to raise ₹4,500 crore

Livemint

Livemint · 2m ago

Biocon launches QIP to raise ₹4,500 crore

Biocon Ltd is set to raise ₹4,500 crore ($523 million) by launching a qualified institutional placement (QIP) issue, selling an 11.6% stake. The raised capital will be used to purchase outstanding optionally convertible debentures from its subsidiary, Biocon Biologics, and repay company debts. The term sheet indicates a floor price of ₹340.20 per equity share, with an indicative floor price of ₹323.20. This strategic move aims to strengthen Biocon's financial stability.

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Related News

IREDA secures Centre’s nod to raise up to ₹4,500 cr via QIP; govt aims to offload 7% stake | Mint

Livemint

Livemint · 11m ago

IREDA secures Centre’s nod to raise up to ₹4,500 cr via QIP; govt aims to offload 7% stake | Mint

The Indian Renewable Energy Development Agency (IREDA) has received government approval to raise up to ₹4,500 crore through a qualified institutional placement (QIP). This move allows the government to dilute its stake in IREDA by 7%. The Department of Investment and Public Asset Management (DIPAM) gave its approval based on a high-level committee's recommendations. The funds raised will help IREDA expand its financing for renewable energy projects and strengthen its capital base. IREDA also plans to sell up to a 10% stake to raise around ₹4,500 crore for future growth.

Bajaj Finserv-owned Bajaj Finance raises Rs 10,000 crore via QIP, preferential issue

IndianStartupNews

IndianStartupNews · 1y ago

Bajaj Finserv-owned Bajaj Finance raises Rs 10,000 crore via QIP, preferential issue

Bajaj Finance, a subsidiary of Bajaj Finserv, plans to raise Rs 10,000 crore through a combination of Qualified Institutions Placement (QIP) and Preferential Issue (PI). The company will raise up to Rs 8,800 crore through equity shares via QIP and an additional Rs 1,200 crore through a preferential issue of warrants. The funds will be used for business expansion and to strengthen the company's capital base. After the preferential issue, Bajaj Finserv's holding in Bajaj Finance will increase to 52.57%.

Jhunjhunwala-backed DB Realty likely to raise up to Rs 1,500 cr via QIP at Rs 258 per share

Money Control

Money Control · 1y ago

Jhunjhunwala-backed DB Realty likely to raise up to Rs 1,500 cr via QIP at Rs 258 per share

Mumbai-based real estate firm DB Realty is expected to raise up to Rs 1,500 crore through a qualified institutional placement (QIP) at a price of Rs 258 per share. The funds will be used for business development and loan repayment. The QIP has a base size of Rs 1,000 crore with an option to raise another Rs 500 crore. The indicative price represents an 8.5% discount from the current market price. DB Realty faced challenges in the past due to legal issues, but a successful fundraising could mark a turnaround for the company.

I-banks to pitch for ₹25,000 crore SBI QIP this week

Livemint

Livemint · 2m ago

I-banks to pitch for ₹25,000 crore SBI QIP this week

State Bank of India (SBI) plans to raise ₹25,000 crore through a qualified institutional placement (QIP) to capitalize on favorable market conditions and support future growth, even though its capital adequacy ratio exceeds regulatory requirements. The bank reported a 10% profit decline to ₹18,643 crore in the March quarter due to increased provisions. Investment banks are expected to present their pitches soon for facilitating the QIP process.

Adani Enterprises in talks with Gulf-based sovereign funds to raise $2 billion through QIP: Report | Mint

Livemint

Livemint · 10m ago

Adani Enterprises in talks with Gulf-based sovereign funds to raise $2 billion through QIP: Report | Mint

- Adani Enterprises is in discussions to raise $2 billion through a qualified institutional placement (QIP) with investors including ADIA, QIA, and GQG. - The institutional share sale is expected to be launched by the end of October. - The funds raised through the QIP will be used for capital expenditure and to repay debt of the company and its subsidiaries. - Adani Energy Solutions raised nearly $1 billion through QIP, with participation from GQG, Blackrock, Nomura, ADIA, QIA, and domestic mutual funds. - Adani Group plans to raise ₹30,000-₹40,000 crore from retail investors through non-convertible debentures (NCD) to diversify funding sources.

Swan Energy to raise ₹4,000 crore via QIP to be launched in Feb

Thehindubusinessline

Thehindubusinessline · 1y ago

Swan Energy to raise ₹4,000 crore via QIP to be launched in Feb

Swan Energy plans to raise around ₹4,000 crore through a QIP (Qualified Institutional Placement) of shares to reduce debt and finance expansion and modernization of Reliance Naval and Engineering shipyard. The QIP, expected to be launched on February 20, may have a share price range of ₹680-700. SBI Life Insurance, SBI Mutual Fund, and Life Insurance Corporation are likely to be anchor investors. Swan Energy's debt stands at ₹3,600 crore, and it reported a net profit of ₹274.6 crore in the nine months of FY24.

Reliance Group’s ₹17,600 crore fundraising strategy set to offer capital for their expansion plans | Mint

Livemint

Livemint · 10m ago

Reliance Group’s ₹17,600 crore fundraising strategy set to offer capital for their expansion plans | Mint

- Reliance Group companies, Reliance Infrastructure Ltd and Reliance Power Ltd, are set to implement their growth strategies with a fundraising of ₹17,600 crore and zero-debt status. - The companies have recently raised ₹4,500 crore through preferential issues of equity shares and ₹7,100 crore from Varde Partners through equity-linked long-term FCCBs. - An additional ₹6,000 crore will be raised through qualified institutional placement (QIP), with each company targeting ₹3,000 crore. - Shareholder approvals are expected by the end of the month for the resolutions that are in place. - With a conservative debt-to-equity ratio of 70:30, the fundraising will provide a total investment outlay of ₹50,000 crore for future business plans over the next few years.

Reliance Infrastructure plans to raise ₹6,000 crore via share sales | Mint

Livemint

Livemint · 11m ago

Reliance Infrastructure plans to raise ₹6,000 crore via share sales | Mint

Reliance Infrastructure plans to raise up to ₹6,014 crore through a share sale and convertible warrants. This comes after the company settled its arbitration dispute with Adani Group over power distribution and a loan dispute with CFM Asset Reconstruction. The company's board has approved a preferential issue to raise ₹3,014 crore and a qualified institutional placement (QIP) to raise up to ₹3,000 crore. The funds will be used for business expansion, investment in subsidiaries, and meeting long-term working capital needs. The company's net worth is expected to increase from ₹9,000 crore to over ₹12,000 crore.

Power Grid to raise Rs 6,000 crore via bonds, check stock reaction

Business Today

Business Today · 4m ago

Power Grid to raise Rs 6,000 crore via bonds, check stock reaction

Power Grid Corporation plans to raise Rs 6,000 crore through bonds issued via private placement. The bond issuance has a base size of Rs 1,500 crore with an oversubscription option of Rs 4,500 crore, bringing the total potential issue size to Rs 6,000 crore. The bonds have a 10-year tenure, annual interest payments, and will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Zomato To Launch INR 8,500 Cr QIP In December

Inc42 · 9m ago

Zomato To Launch INR 8,500 Cr QIP In December

Food delivery company Zomato has chosen Morgan Stanley as its investment bank for its qualified institutional placement (QIP) fundraising. It may also bring on board one or two more investment banks for the same purpose. Zomato recently received board approval to raise up to INR 8,500 Cr (approximately $1 billion) through the QIP.

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