Last QIP - 11/4/2023. Amt - Rs 341 Crs
Proposed QIP as per 2023 AR - 1/8/24 (within 12 months of approval in AGM) - Upto Rs 500 Crs. The amount could be even lesser in case capital markets are favorable the stock price.
Time period between the two - 5 quarters / 15 months
Some snippets from Q4FY23 Concall:
Kishore Lodha (CFO): –We ended the year with a capital adequacy of 20.23%. And then over and above in April and May, we have raised INR 340 crores. If I take that back into March 31, roughly, we are around 30% of capital adequacy, which will be sufficient to cater all the needs for this entire year (only 1 year), and we don’t see capital adequacy going below the current level for the full year in this equity base.
We have a text question from Pramod Jain from Purshottam Investofin Limited. When you
intend to raise next capital as you’re moving up the ladder in the world of financing, where you
will face interest war? Since you are still A rated, so your cost of funds will be much higher than
your peers. How will you be able to meet the competition?
Kishore Lodha: So next round of capital that we have said in our commentary earlier that for this full year, we are not looking at raising any equity. Probably in the mid of next year, we will look at another round of equity for the growth capital (Aug’24).
In your 30/6 post you hve mentioned that they have to dilute in 5/6 quarters which from the above dates and management commentary seems fair. Your thoughts ?
Subscribe To Our Free Newsletter |