Hi-Tech Pipes released 26,996,734 fresh equity shares at Rs 185.50 per equity share under the QIP.
The Hi-Tech Pipes QIP was oversubscribed by marquee institutional capitalists and got quotes of over Rs 800 crore.
Steel pipelines manufacturer Hi-Tech Pipes has actually increased over Rs 500 crore via Qualified Institutional Placement (QIP) path. The QIP opened up on October 7 article market hours, and shut on October 11, the firm stated in an exchange declaring.
The QIP was oversubscribed by marquee institutional capitalists and got 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 firm stated.
The QIP brought in leading residential establishments 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, popular worldwide establishments likewise joined the QIP.
The firm released 26,996,734 fresh equity shares at Rs 185.50 per equity share under the QIP.
Hi-Tech Pipes possesses and runs 6 incorporated producing centers having actually a mixed mounted capability of around 8,00,000 statistics tonne per year.
(This tale has actually not been modified by News 18 team and is released from a syndicated information firm feed – PTI)
