Latest news with #QualifiedInstitutionalPlacement
Business Upturn
a day ago
- Business
- Business Upturn
Kaynes Technologies launches Rs 1,600 crore QIP at upto 4.8% discount: Report
Kaynes Technology, one of the leading electronics manufacturing services companies, has announced plans to raise up to ₹1,600 crore through a Qualified Institutional Placement (QIP), according to a report by CNBC-TV18 . The QIP issue will be offered in the price band of ₹5,344 to ₹5,612 per share, implying a discount of up to 4.8% from the current market price. The final floor price will be determined in accordance with SEBI guidelines. This capital raise aligns with Kaynes Technology's strategic growth plans, which include capacity expansion, R&D investment, and working capital needs to support its domestic and international contracts. In the meantime, Kaynes Technology shares closed at ₹5,600.00 today, marking a decline from the opening price of ₹5,737.00. The stock touched an intraday high of ₹5,756.00 and a low of ₹5,580.00. Over the past 52 weeks, the stock has seen a high of ₹7,822.00 and a low of ₹3,726.00. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Mint
3 days ago
- Business
- Mint
Indian Overseas Bank, Punjab & Sind Bank, other PSU bank stocks rally up to 4% on report of accelerated govt stake sale
Shares of public sector banks (PSBs) rallied up to 4% on Tuesday following reports that the government is set to fast-track the process of offloading its stake in select lenders. Indian Overseas Bank share price surged as much as 4% to ₹ 38.99 apiece, while Central Bank of India shares rose 2.68% to ₹ 39.00. UCO Bank stock price gained 2.7% to ₹ 32.14, and Bank of Maharashtra shares advanced 2.8% to ₹ 56.15. Meanwhile, Punjab & Sind Bank share price added 3.4% to trade at ₹ 32.30 on the BSE. According to a report by CNBC Awaaz, the government plans to accelerate the disinvestment process in public sector banks, with the appointment of merchant bankers in the final stages. The Centre aims to sell up to a 20% stake in five PSU banks over the next six months through Qualified Institutional Placement (QIP) and Offer for Sale (OFS) routes. The proposed stake sale will involve UCO Bank, Bank of Maharashtra, Indian Overseas Bank, Central Bank of India, and Punjab & Sind Bank. Proceeds from the stake sale are expected to be utilised to meet the respective banks' capital and operational requirements, the report added.
Mint
4 days ago
- Business
- Mint
Biocon shares in focus after board opens up QIP fundraising on 16 June, sets floor price at ₹340.20/share
Biocon shares will be in focus of stock market investors after the company's board of directors announce the opening of the QIP (Qualified Institutional Placement) fundraising on 16 June 2025, according to an exchange filing. 'The Fund Raising Committee has at its meeting held today, i.e. Monday, June 16, 2025, authorizing the opening of the issue,' said Biocon in the BSE filing. The pharma company also approved the floor price of the QIP issue to be at ₹ 340.20 per equity share. Biocon disclosed that the company has the ability to discount the offer further to not more than 5 per cent on the floor price of the QIP issue. 'The company may, at its discretion, offer a discount of not more than 5% on the floor price for the issue,' said Biocon in the exchange filing. The firm will decide the issue price after consultation with the book-running lead managers appointed in relation to the case. Biocon shares closed 0.52 per cent higher at ₹ 357.30 after Monday's stock market session, compared to ₹ 355.45 at the previous stock market close. The company announced the outcome of its board meeting after the market operating hours on 16 June 2025. Shares of the pharmaceutical company have given investors more than 637.35 per cent since its listing in the Indian stock market in 2004. However, the shares lost 6.37 per cent in the last five years. In the last one-year period, the stock has gained 8.71 per cent, and is trading 4.31 per cent higher in the last five stock market sessions. Biocon shares hit their 52-week high level at ₹ 404.60 on 21 January 2025, and the 52-week low level was at ₹ 290.80 on 3 March 2025, according to data collected from the BSE website. The pharma company's market capitalisation (M-Cap) was at ₹ 42,897.44 crore as of the stock market close on Monday, 16 June 2025.
Mint
4 days ago
- Business
- Mint
Biocon shares in focus after board opens up QIP fundraising on 16 June, sets floor price at ₹340.20/share
Biocon shares will be in focus of stock market investors after the company's board of directors announce the opening of the QIP (Qualified Institutional Placement) fundraising on 16 June 2025, according to an exchange filing. 'The Fund Raising Committee has at its meeting held today, i.e. Monday, June 16, 2025 authorizing the opening of the issue,' said Biocon in the BSE filing. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
4 days ago
- Business
- Mint
LIC-backed NBFC raises ₹2,000 crores via QIP; Quant Mutual Fund ups stake to 5.96%
Capri Global Capital shares fell more than 5% during the early part of Monday's trading session; however, the stock has bounced back in the latter half of the session today. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Capri Global Capital shares highly volatile counter witnessing sharp swings on both sides. After a gap-down start today, the stock recovered to trade flat. The recent low near ₹ 150 acts as strong support, while a breakout above ₹ 185 and the 200DMA could trigger positive momentum. Traders should wait for a decisive move beyond the ₹ 150– ₹ 185 range. Capri Global Capital share price today opened at ₹ 167.65 apiece on the BSE, the stock touched an intraday high of ₹ 172.60 per share, and an intraday low of ₹ 161.50 per share. As per shareholding pattern public shareholder for the quarter ending 12 June 2025 on the BSE, Life Insurance Corporation Of India (LIC) holds 7.89% stake in Capri Global Capital. Sbi Life Insurance Co too holds 2.97% stake in the firm. In its most recent filing, the company announced that Quant Mutual Fund raised its stake to 5.96% from 1.53%. The non-banking financial company (NBFC) has announced that it successfully completed its Qualified Institutional Placement (QIP), raising primary equity capital of ₹ 2,000 crores by issuing approximately 136.5 million shares to institutional buyers. The QIP Committee, authorized by the Board, met on June 12, 2025, to determine the pricing and allocation for the QIP. As stated in an exchange filing, this is the company's first QIP in the past ten years. The offering received an enthusiastic response from a diverse group of institutional investors, including both foreign and domestic long-only funds, mutual funds, and insurance companies such as Quant Mutual Fund, 3P Investment, BlackRock, Think Investments, Allspring Global Investments, ICICI Prudential Life Insurance, HDFC Life Insurance, ICICI Lombard General Insurance, SBI General Insurance, HDFC ERGO General Insurance, TATA AIF, and many other long-only investors, underscoring the company's execution and technological capabilities, strong governance, and long-term vision. 'The successful QIP marks a significant milestone in Company's growth journey. The capital raised will enable us to capitalise on growth opportunities across key lending verticals, expand our geographical presence, invest in AI & data science capabilities and strengthen our capital base,' said Rajesh Sharma, Managing Director of the company.
