Zen Technologies has launched a Qualified Institutions Placement (QIP) to raise ₹800 crore, with an option to scale up to ₹1,000 crore. The base issue will account for 5.95% of the company’s equity, which can increase to 7.43% if the full amount is raised. The shares are priced at ₹1,601 each, representing a 10.2% discount to the last closing price of ₹1,782.55 and a 5% discount to the SEBI floor price of ₹1,685.18.
Key Details:
- Issue Size: ₹800 crore, with an option to increase to ₹1,000 crore.
- Price per Share: ₹1,601 (10.2% discount to last closing price).
- Lock-in Period: 60 days.
- Shares Offered: Equity shares with a face value of ₹1 each.
- BRLMs: ICICI Securities, Motilal Oswal, Nuvama.
Use of Proceeds:
- Funding working capital requirements.
- Supporting inorganic growth through acquisitions and strategic initiatives.
- General corporate purposes.
Timeline:
- Launch Date: August 21, 2024, after market close.
- Closing of EOI: August 22, 2024, by 08:45 am IST.
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