4 hrs ago

Inox Green, Wheels India Launch QIPs; Prices, Fundraising Details

Double QIP action: Inox Green, Wheels India shares soar as fundraises kick off- Check floor price, discount, other info · livemint.com

Inox Green and Wheels India are trying to raise money by selling new shares to large investors.

This type of share sale is called a qualified institutional placement, or QIP.

Inox Green wants to raise ₹300 crore.

Its starting share price for the sale is ₹174.36, and it may offer a discount of up to 5%.

It plans to sell 1.81 crore shares and may sell more shares if needed.

Wheels India wants to raise ₹250 crore, with a starting price of ₹2,197.10 per share.

Both companies’ shares rose during Friday’s trading session after the announcements.

Inox Green plans to use its money to help pay for an operations and maintenance business through its subsidiary Vibhav Energy.

The articles differ on the opening date, with one saying Thursday, September 24, and another referring to Friday morning.

Key facts

Inox Green fundraising target: ₹300 crore
Inox Green floor price: ₹174.36 per share
Inox Green base offer: 1.81 crore shares
Additional Inox Green shares: Up to 60.4 lakh shares
Wheels India fundraising target: ₹250 crore
Wheels India floor price: ₹2,197.10 per share
Discount: Both companies may offer a discount of up to 5% on their respective floor prices
Inox Green bookrunner: Emkay Global

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