Hi-Tech Pipes launched 26,996,734 recent fairness shares at Rs 185.50 per fairness share underneath the QIP.
The Hi-Tech Pipes QIP was oversubscribed by marquee institutional capitalists and received quotes of over Rs 800 crore.
Steel pipelines producer Hi-Tech Pipes has truly elevated over Rs 500 crore by way of Qualified Institutional Placement (QIP) path. The QIP opened up on October 7 article market hours, and shut on October 11, the agency said in an alternate declaring.
The QIP was oversubscribed by marquee institutional capitalists and received 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 said.
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, widespread worldwide institutions likewise joined the QIP.
The agency launched 26,996,734 recent fairness shares at Rs 185.50 per fairness share underneath the QIP.
Hi-Tech Pipes possesses and runs 6 integrated producing facilities having truly a combined mounted functionality of round 8,00,000 statistics tonne per 12 months.
(This story has truly not been modified by News 18 crew and is launched from a syndicated data agency feed – PTI)
