Poddar Developers raises funds via QIP; stock rallies 5%
Poddar Developers Ltd rallied as much as 4.9 per cent in trade on Thursday after the realty player said it has raised Rs 125 crore through qualified institutions placement (QIP) route.
By ET Online | Updated:
NEW DELHI: Poddar Developers Ltd rallied as much as 4.9 per cent in trade on Thursday after the realty player said it has raised Rs 125 crore through qualified institutions placement (QIP) route.
This marks the Mumbai-based firm's first fund raising event since its IPO in 1982.
At 10:05 a.m.; Poddar Developers was trading 2.9 per cent higher at Rs 1434. It hit a low of Rs 1410 and a high of Rs 1462.50 in trade today.
The company informed the BSE about the closure of the QIP bid, which opened on January 19, and said an issue price of Rs 1,125.21 per share has been approved by the board.
Equirus Capital acted as the financial advisor for the developer.
This marks the Mumbai-based firm's first fund raising event since its IPO in 1982.
At 10:05 a.m.; Poddar Developers was trading 2.9 per cent higher at Rs 1434. It hit a low of Rs 1410 and a high of Rs 1462.50 in trade today.
The company informed the BSE about the closure of the QIP bid, which opened on January 19, and said an issue price of Rs 1,125.21 per share has been approved by the board.
Equirus Capital acted as the financial advisor for the developer.
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