The distribution of 1.13 crore shares to eligible, qualified institutional buyers for a total of Rs 594.84 crore has been approved by Zaggle Prepaid Ocean services Ltd.
According to a stock exchange filing, the shares were distributed at the issue price of Rs 523.20 per equity share, which represents a reduction of Rs 27.53 or 5% on the floor price of Rs 550.73 per equity share.
According to the filing, the company's paid-up equity share capital has increased from Rs 12.28 crore, which includes 12.28 crore equity shares, to Rs 13.42 crore, which includes 13.42 crore equity shares, as a result of the allocation of equity shares in the issue.NDTV Profit had earlier reported that the company had initiated a Qualified Institutional Placement to collect Rs 450 crore, with the possibility to increase fundraising to Rs 750 crore. The issue debuted on december 18 and closed on december 23.
Zaggle Launches QIP To Raise Rs 450 Crore, Option To Upsize To Rs 750 Crore-Details Here
The transaction's book-running lead managers were Nuvama Wealth Management, Equirus capital, and Motilal oswal Investment Advisors.
The company's share price fell for a fifth consecutive session on december 23, losing over 9% in the fall. On Monday, it closed 0.6% lower at Rs 528.90.
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