Jupiter Wagons has successfully raised ₹800 crore through a qualified institutional placement (QIP).
What Happened: According to the regulatory filing, Jupiter Wagons has issued and allotted 1.22 crore equity shares at a price of ₹655.50 per share, including a premium of ₹645.50 per share. The Fund Raising Committee of the company approved this move during a meeting held on Friday.
The issue was open from July 8, 2024, and closed on July 11, 2024. The total amount raised from the issue stands at ₹800 crore.
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Morgan Stanley Asia (Singapore) PTE, Bank of India – Mutual Fund, and Edelweiss – Mutual Fund are among the entities that have been allotted more than 5% of the equity shares offered in the issue.
Morgan Stanley Asia (Singapore) PTE with Non ODI (Offshore Derivatives Instrument) got 1.88% of the shares issued in the placement. The firm also acquired 7.79% of the shares issued through ODI. This signifies Morgan Stanley bought the shares for a foreign entity that could not buy Indian shares as they lacked a Foreign Portfolio Investment (FPI) license in India.
Edelweiss mutual fund and Bank of India mutual fund both picked up 6.25% of the shares issued each.
Price Action: Jupiter Wagons’ share price was 1.33% to trade at ₹698.55 on Friday afternoon.
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