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Gravita India Ltd launched a ₹750-crore QIP with a floor price of ₹2,206.49/share. The indicative price of ₹2,096.2/share marks a 6.1% discount. The offering involves 5.2% equity dilution.
Gravita India Ltd has launched its Qualified Institutional Placement (QIP) to raise ₹750 crore, with the potential to upsize to ₹1,000 crore. The floor price for the offering is set at ₹2,206.49 per share, while the indicative issue price is ₹2,096.2 per share, reflecting a 6.1% discount to the last closing price. The transaction will result in an equity dilution of 5.2%, enabling Gravita India to meet its financial and operational requirements.
Also read: ADIA to Divest ₹1,903-Crore Stake in Mindspace REIT at ₹350/Share
QIP Details: ₹750-crore base size with a ₹1,000-crore potential.
Floor Price: ₹2,206.49/share; indicative price at ₹2,096.2/share.
Equity Dilution: 5.2%.
Utilisation of Funds: Debt repayment, working capital, and corporate purposes.
Also read: HCC Launches ₹400-Crore QIP with Floor Price of ₹45
Gravita India Ltd showcased mixed financial performance for Q2 FY25:
Metric | Q2 FY25 | Q2 FY24 | Growth (%) |
Net Profit | ₹72 crore | ₹57 crore | 26.3% |
Revenue from Operations | ₹927.4 crore | ₹836.2 crore | 11% |
EBITDA | ₹63.4 crore | ₹72.8 crore | -13% |
The company plans to utilise the funds raised through the QIP to strengthen its balance sheet by repaying outstanding borrowings, addressing working capital needs, and supporting general corporate initiatives.
Gravita India Ltd share price ended at ₹2,239.05 on Monday, up by 1.95%. The ongoing QIP, combined with the company’s operational strategy, is expected to influence the stock’s movement in the coming weeks.
Gravita India Ltd’s ₹750-crore QIP reflects its focus on financial restructuring and growth. With a clear plan for fund utilisation and stable financial performance, the company aims to reinforce its market position while optimising its operations.
Also read: Mankind Pharma Launches ₹3,000-Crore QIP to Fund BSV Acquisition
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