Why are Brigade Enterprises, Prestige Estates shares trading higher today?
Brigade Enterprises has raised ₹1,500 crore by selling equity shares to institutional investors, while Prestige Estates garnered ₹5,000 crore via QIP.
Brigade Enterprises has raised ₹1,500 crore by selling equity shares to institutional investors, while Prestige Estates garnered ₹5,000 crore via QIP.
The surge came after the aerospace and defence giant’s fundraising committee approved the QIP issue, setting the floor price at ₹1,685.18 per share with a potential discount of up to 5%.
On Wednesday, Adani Energy shares gained 3.9% to ₹1,169.40 on the BSE, after ending 6.95% higher in the previous session.
Cello World committee sets the QIP floor price at an 11% discount from yesterday's closing price.
The real estate major has raised over ₹13,000 crore of capital in the last 36 months.
Investors are showing interest in credit-based financial companies with strong profitability indicators, but they are still hesitant to make new investments until they gain more confidence.
Cholamandalam Investment shares opened 2% higher at ₹1,245, but soon lost momentum and dropped over 1% to hit a low of ₹1202.90 on the BSE.
The real estate investment trust will use proceeds to fund the acquisition of 50% stake in two large commercial assets.
Investors who have been allotted over 5% equity shares are MIT (23.75%), Quant’s Multi-Asset Fund (12.75%) and Value Fund (6.75%), Carnelian Structural Shift Fund (6.25%) and Societe Generale (6%)
Economic Survey 2022: This is the first time ever that more than ₹1 lakh crore has been raised in any financial year through equity issues via various modes such as IPO, rights, and QIP.