The issue price for the QIP has been fixed as ₹455 per share, which is a 4.68% discount to its floor price of ₹477.33 per share.Funds managed by street veterans like Madhusudan Kela and Sunil Singhania have been issued funds in the QIP along with funds like ICICI Prudential, Bandhan Mutual Fund and insurance companies like SBI Life.Madhusudan Kela's fund held a 1.38% stake in Shilpa Medicare as of December 31.
Dovetail India Fund, which has also been issued shares in the QIP, held a 1.08% stake at the end of last year.Shilpa Medicare had commenced this fund raising exercise of selling shares to eligible institutional investors on April 8.
It has not specified how it plans on utilising the proceeds of the QIP.As of December 31, promoters of Shilpa Medicare held a 50% stake in the company.
Its March quarter shareholding is yet to be updated on the exchanges.Shares of Shilpa Medicare fell 1% on Friday to close at ₹506.6.
The stock has doubled over the last 12 months.
Fund QIP Shares ICICI Prudential MF 18% Bandhan Mutual Fund 10% SBI Life Insurance 10% Troo Capital 10% Abakkus Diversified Alpha Fund - 2 5.46% Dovetail India Fund 5% Cohesion MK Best Ideas Sub-Trust 8% Winro Commercial 5%
Active Pharmaceutical Ingredients (API) manufacturer Shilpa Medicare Ltd. has raised ₹500 crore through a Qualified Institutional Placement (QIP) which closed on April 12.The company's board has approved the allotment of 1.09 crore equity shares of face value of ₹1 to eligible institutional buyers. The issue price for the QIP has been fixed as ₹455 per share, which is a 4.68% discount to its floor price of ₹477.33 per share.Funds managed by street veterans like Madhusudan Kela and Sunil Singhania have been issued funds in the QIP along with funds like ICICI Prudential, Bandhan Mutual Fund and insurance companies like SBI Life.Madhusudan Kela's fund held a 1.38% stake in Shilpa Medicare as of December 31. Dovetail India Fund, which has also been issued shares in the QIP, held a 1.08% stake at the end of last year.Shilpa Medicare had commenced this fund raising exercise of selling shares to eligible institutional investors on April 8. It has not specified how it plans on utilising the proceeds of the QIP.As of December 31, promoters of Shilpa Medicare held a 50% stake in the company. Its March quarter shareholding is yet to be updated on the exchanges.Shares of Shilpa Medicare fell 1% on Friday to close at ₹506.6. The stock has doubled over the last 12 months.
