Macrotech Developers raises ₹3,281 crore via QIP. Details here
₹3,281 crore through the issuance of shares to qualified institutional buyers. The money raised through the Qualified Institutional Placement (QIP) is aimed at repaying the company debt, acquiring land, and covering other expenses.
The Macrotech Developers QIP opened on 4th March 2024 and ended on 7th March 2024. The Qualified Institutional Buyers who invested in Macrotech Developers in the current offer include Nomura Funds Ireland Public Limited, GQG Partners, HDFC Life Insurance, and Invesco Funds.
Informing Indian stock market exchanges about the money raised, Macrotech Developers said, "Please note that the Committee for Fund Raise of the board of directors of the Company (“Committee") has, at its meeting held today i.e., March 7, 2024, approved the allotment of 2,98,89,353 Equity Shares of face value ₹10 each to eligible qualified institutional buyers at the issue price of ₹1,098 per Equity Share (including a premium of ₹1,088 per Equity Share) against the floor price of ₹1,129.48 per Equity Share, aggregating to ₹32,818.51 Million, pursuant to the Issue." "The Issue opened on March 4, 2024, and closed on March 7, 2024, and the same was intimated to you through our letters dated March 4, 2024 and March 7, 2024 respectively," the company added. Under the allotment of Equity Shares in the Issue, the paid-up equity share capital of the Company stands increased to ₹9,944.20 million, comprising 99,44,20,185 Equity Shares.
As mentioned above, the QIBs who invested in Macrotech Developers include Nomura Funds Ireland Public Limited, GQG Partners, HDFC Life Insurance, and Invesco Funds. Here we list out full details of these QIB's investment: 1] New World Fund INC: The share allotment committee allotted 15,47,212 company
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