Wockhardt raises Rs 480 crores via QIP
With the closure of its recent Qualified Institutional Placement (QIP), Wockhardt has now raised Rs 480 crores. The share allotment committee allotted a total of 92,85,163 equity shares to eligible Qualified Institutional Buyers (QIBs), including prominent investors like Madhusudan Kela's Cohesion MK Best Ideas and Prashant Jain's 3P India Equity, among others.
According to the BSE filing, 3P India Equity, managed by Prashant Jain, was allotted 14,89,360 shares, which represents 16.04 percent of the QIP size. Meanwhile, Cohesion MK Best Ideas, led by Madhusudan Kela, received 5,80,270 shares, equivalent to 6.25 percent of Wockhardt's QIP size.
ICICI Prudential secured 19,34,235 shares, equivalent to 20.83 percent of total Wockhardt's QIP size. These shares were allotted to various ICICI Prudential schemes by Wockhardt share allotment committee.
Mirae Asset Fund received 8,70,406 shares, amounting to 9.37 percent of Wockhardt's QIP size. Invesco India Smallcap Fund obtained 5,80,270 shares, constituting 6.25 percent of the QIP shares offered by the pharmaceutical company.
Other notable institutions such as Tata Indian opportunities fund, Gagandeep Credit Capital, and Subhkam Ventures also received shares through the QIP share allotment process.
List of allottees who have been allotted more than 5 per cent (5%) of the equity share issued in the qualified institutions placement
Sr. No. | Name of the Allottees | Shares allotted | % shares allotted to total Issue Size |
1(a) | ICICI PRUDENTIAL ELSS TAX SAVER FUND | 6,10,700 | 6.58% |
1(b) | ICICI PRUDENTIAL EQUITY & DEBT FUND | 7,43,264 | 8.00% |
1(c ) | ICICI PRUDENTIAL PHARMA HEALTHCARE AND DIAGANOSTICS (P.H.D) FUND | 5,80,271 | 6.25% |
Sub-total | 19,34,235 | 20.83% | |
2 | TATA INDIAN OPPORTUNITIES FUND | 13,53,965 | 14.58% |
3 | 3P INDIA EQUITY FUND 1 | 14,89,360 | 16.04% |
4(a) | MIRAE ASSET HEALTHCARE FUND MIRAHCFD | 4,83,556 | 5.21% |
4(b) | MIRAE ASSET FLEXI CAP FUND | 1,54,740 | 1.67% |
4(c ) | MIRAE ASSET MULTICAP FUND | 2,32,110 | 2.50% |
Sub-total | 8,70,406 | 9.37% | |
5 | COHESION MK BEST IDEAS SUB-TRUST | 5,80,270 | 6.25% |
6 | INEVSCO INDIA SMALLCAP FUND . | 5,80,270 | 6.25% |
7 | GAGANDEEP CREDIT CAPITAL PVT LTD | 5,07,000 | 5.46% |
8 | SUBHKAM VENTURES I PVT LTD | 5,00,000 | 5.38% |
Wockhardt Ltd offered a total of 92,85,163 shares to Qualified Institutional Investors at Rs 517 each, aiming to raise approximately Rs 480 crore through the QIP.
The company officially closed this Rs 480 crore QIP on Tuesday, announcing the allotment of shares to eligible QIBs.
Read also: Wockhardt gets CDSCO Panel nod to study Biphasic insulin aspart
