Another company in the pharma sector is raising funds through QIP i.e. Qualified Institutional Placement. This company is Wockhardt. According to the information received, this company will raise around ₹ 1,000 crores through QIP. Out of this, around ₹ 800 crores will be the base issue size and the remaining ₹ 200 crores can be used as a green shoe option. After additional subscription, the company will exercise the green-shoe option.

The company had sought approval from the board to raise funds on 28 May this year. The company has now launched the QIP. This QIP was launched after market close on 6 November.

What is the issue price?
The issue price for Wockhardt QIP has been fixed at ₹1,105 per share. Which is at a 4.93% discount from the SEBI floor price. On Wednesday, 6 November 2024, Wockhardt's stock closed at ₹1,269.85 per share. Thus, the issue price of Wockhardt QIP is at a discount of 12.89% as of Wednesday. According to the information received, the company will use about 5.57% of paid-up equity capital to raise funds under the QIP process. Other details of Wockhardt QIP Wockhardt's QIP has been launched after market close on 6 November (Wednesday). It will remain open till 7 November (Thursday). Shares will be credited to the demat account on November 13. DAM Capital Advisors is the banker for this QIP. What is QIP? QIP is a kind of tool through which listed companies raise funds for their business related work. In this, companies raise funds by selling their equity shares or other securities to qualified institutional buyers (QIBs). These QIBs can be mutual funds, pension funds or venture capital funds. This is the simplest and cheapest way for companies to raise funds. Performance of Wockhardt share Talking about the performance of Wockhardt share, in the last 1 year, it has been seen operating in the range of ₹ 232.40 to ₹ 1334.65 per share. During the last one year, this stock has seen a rise of about 429% i.e. 5 times. So far this year, this stock has seen a rise of more than 170%. In the last 6 months, the price of this stock has increased by 135% i.e. more than double.