Hi-Tech Pipes launched 26,996,734 contemporary fairness shares at Rs 185.50 per fairness share beneath the QIP.
The Hi-Tech Pipes QIP was oversubscribed by marquee institutional capitalists and obtained quotes of over Rs 800 crore.
Steel pipelines producer Hi-Tech Pipes has really elevated over Rs 500 crore through Qualified Institutional Placement (QIP) path. The QIP opened up on October 7 article market hours, and shut on October 11, the agency acknowledged in an alternate declaring.
The QIP was oversubscribed by marquee institutional capitalists and obtained quotes of over Rs 800 crore.
“Hi-Tech Pipes announces successful closure of Rs 5,000 Million Qualified Institutional Placement (QIP), with oversubscription by marquee institutional investors,” the agency acknowledged.
The QIP introduced in main residential institutions like Motilal Oswal Fund, Bandhan Mutual Fund, Bank of India Mutual Fund, JM Financial Mutual Fund, LIC Mutual Fund, WhiteOak Mutual Fund, SBIGeneral Insurance Besides, standard worldwide institutions likewise joined the QIP.
The agency launched 26,996,734 contemporary fairness shares at Rs 185.50 per fairness share beneath the QIP.
Hi-Tech Pipes possesses and runs 6 included producing facilities having really a combined mounted functionality of round 8,00,000 statistics tonne per yr.
(This story has really not been modified by News 18 staff and is launched from a syndicated info agency feed – PTI)
