Wockhardt upper circuit: Wockhardt shares jump 5% after issuance of shares to Madhusudan Kela's company in ₹480-cr QIP
Stock market today: Wockhardt shares witnessed strong buying interest in the early morning session on Wednesday. The pharma company declared closure of its QIP issue on Tuesday and allotted shares to the applicants of its QIP offer. The share allotment committee allotted 92,85,163 equity shares to the eligible QIBs, which includes ace investor Madhusudan Kela's company Cohesion MK Best Ideas and HDFC Mutual Fund veteran Prashant Jain's managed firm 3P India Equity.
As per the share allotment details shared by the company with the Indian stock market exchanges, Madhusudan Kela's Cohesion MK Best Ideas has been allotted 5,80,270 shares of the company, which is 6.25 percent of the Wockhardt QIP size. Prashant Jain managed 3P India Equity has received 14,89,360 shares via in share allotment process. The total number of shares allotted to 3P India Equity is 16.04 percent of the Wockhardt QIP size.
Some other prominent institutions like ICICI Prudential, Mirae Asset Fund, Invesco India Fund, Gagandeep Credit Capital, and Subhkam Ventures have also received shares through the QIP share allotment process. As per the share allotment details shared by Wockhardt Ltd, the share allotment committee of the pharma company allotted 5,80,270 shares to Madhusudan Kela's company Cohesion MK Best Ideas, which is 6.25 percent of the net QIB size of Wockhardt. These 5,80,270 Wockhardt shares are 6.25 percent of the total shares offered by Wockhardt in its QIP offer.
The QIP share allotment committee of Wockhardt Ltd also allotted shares to HDFC Mutual Fund veteran Prashant Jain managed company 3P India Equity. Prashant Jain managed company has been allotted 14,89,360 Wockhardt shares, which is 16.04 percent of the net QIP size. ICICI
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