Latest news with #QualifiedInstitutionsPlacement
Mint
3 hours ago
- Business
- Mint
Penny stock below Re 1 to be in focus on Thursday; here's why
Penny stock: GACM Technologies shares will be in focus of stock market investors on Thursday, 3 July 2025, after the company announced its plans of issuing a ₹ 200 crore Qualified Institutions Placement (QIP) in one or more segments, according to an official release. The company also announced that it has entered into a definitive agreement to acquire a 30 per cent stake in WEXL Edu Pvt. Ltd, an emerging AI-driven EdTech and education data company. The deal is estimated to be over ₹ 500 crore in valuation. According to the filing, the company has scheduled Wednesday, 9 July 2025, as the date to create, offer, issue, and allot equity shares via the QIP issue. 'Board meeting of Telangana-based financial technology and financial consultancy services company,GACM Technologies Ltd is scheduled on July 9, 2025, to create, offer, issue, and allot securities of up to ₹ 200 crores through Qualified Institutions Placement (QIP) in one more tranche,' said the company in the release. GACM Technologies shares closed 4.95 per cent lower at ₹ 0.96 after Wednesday's session, compared to ₹ 1.01 in the previous stock market session. The company announced its QIP issue of ₹ 200 crore on 3 July 2025. GACM Technologies stock has given market investors more than 113 per cent returns on their investment in the last five years. However, the stock has lost 8.57 per cent in the last one-year period. On a year-to-date (YTD) basis, the shares have gained over 23 per cent in 2025, and 17.07 per cent in the last one-month period. The shares hit their 52-week high at ₹ 1.80 on 5 September 2024, while the 52-week low level was at ₹ 0.57 on 28 March 2025, according to BSE data. The company's market capitalisation (M-Cap) was at ₹ 105.86 crore as of the stock market close on Wednesday, 2 July 2025. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
News18
7 days ago
- Business
- News18
Union Bank of India To Raise Rs 6,000 Cr Via Equity And Debt, Shares In Focus
Last Updated: Union Bank of India plans to raise up to Rs 6,000 crore through equity and debt, with Rs 3,000 crore via equity and Rs 3,000 crore through debt, including AT1 and Tier 2 bonds. Union Bank of India to raise Rs 6000 via equity and debt. Union Bank of India Share Price: Shares of Union Bank of India are in the spotlight today, June 26, after the board approved a plan to raise up to Rs 6,000 crore through a mix of equity and debt instruments. The decision was made at the Board meeting on June 25, 2025. As per an exchange filing, the public sector lender will raise up to Rs 3,000 crore via equity capital in one or more tranches. This could be done through methods such as a Further Public Offer (FPO), Rights Issue, Qualified Institutions Placement (QIP), Preferential Allotment, or a combination of these. Shares of Union Bank of India settled 1.70 per cent lower on Wednesday to close at Rs 144.59 per share. The scrip opened at Rs 146.50 apiece. Additionally, the bank has received approval to raise up to Rs 3,000 crore through debt instruments. This includes Rs 2,000 crore via Basel III-compliant Additional Tier 1 (AT1) bonds and Rs 1,000 crore through Tier 2 bonds. The debt instruments may also be issued in foreign currency, according to the bank. Govt Cancels Bank's ED Appointment The Government has cancelled its order on the appointment of Pankaj Dwivedi as executive director (ED) of Union Bank of India and sent him back as General Manager (GM) of Punjab & Sind Bank. The government's decision came amid the pending case against Dwivedi in Delhi High Court. The court highlighted his appointment as ED of Union Bank of India, violating regulations due to the lack of vigilance clearance. Dwivedi had been ceased as ED of Union Bank of India with immediate effect. 'we wish to inform you that the Central Government vide notification no. 12/4/2024-BO.I dated June 24, 2025 has cancelled the appointment of Shri Pankaj Dwivedi as Executive Director of Union Bank of India and consequently he ceases to be the Executive Director of the Bank with immediate effect," Union Bank of India announced in the press release. First Published:
Business Standard
21-06-2025
- Business
- Business Standard
Biocon raises Rs 4,500 crore via QIP
First equity fundraise since 2004 IPO sees strong institutional demand. Biocon has successfully concluded a Qualified Institutions Placement (QIP), raising Rs 4,500 crore (approximately $523 million), marking its first equity fundraise since its IPO in 2004. The company issued 13.63 crore equity shares at Rs 330 per share. The QIP opened on June 16 and closed on June 19, attracting participation from a mix of domestic and foreign institutional investors. Major names in the final orderbook included SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Life, Nippon India Mutual Fund, Mirae Asset, Franklin Templeton, SBI General Insurance, Government Pension Fund Global, and BlackRock. The proceeds from the fundraise will be used for multiple strategic objectives, including purchasing optionally convertible debentures of Biocon Biologics from Goldman Sachs-managed funds, repaying certain borrowings, and meeting other financial and corporate needs. Following the issue, the combined stake of the promoter and promoter group stands at 54.45%, down from 60.64% as of March 2025. Siddharth Mittal, CEO and managing director, Biocon, said, "The strong response to our QIP reflects deep investor conviction in Biocon's differentiated strategy and consistent execution. This capital raise further strengthens our balance sheet, enabling us to invest in innovation, expand global access to lifesaving biopharmaceuticals, and advance our purpose of delivering affordable healthcare solutions that address pressing health inequities worldwide." Biocon is a global biopharma company dedicated to improving affordable access to therapies for chronic conditions like diabetes, cancer, and autoimmune diseases. The companys consolidated net profit surged 154.2% to Rs 344.50 crore on a 12.8% jump in net sales to Rs 4,358.10 crore in Q4 FY25 over Q4 FY24. The scrip rose 0.86% to settle at Rs 351.60 on Friday, 20 June 2025.
The Hindu
20-06-2025
- Business
- The Hindu
Biocon raises ₹4,500 crore through QIP
Biocon said it completed its Qualified Institutions Placement (QIP) and raised ₹4,500 crore through the issuance of 13,63,63,635 equity shares of face value ₹5 each to eligible qualified institutional buyers at the issue price of ₹330 per equity share (including a premium of ₹325 per equity share). The QIP, which opened on June 16 and closed on June 19, witnessed robust investor interest from a diverse group of domestic and international investors, underscoring strong confidence in Biocon's growth prospects, said the company on Friday. Siddharth Mittal, CEO and Managing Director, Biocon Limited, said, 'The strong response to our QIP reflects deep investor conviction in Biocon's differentiated strategy and consistent execution. This capital raise further strengthens our balance sheet, enabling us to invest in innovation, expand global access to lifesaving biopharmaceuticals, and advance our purpose of delivering affordable healthcare solutions that address pressing health inequities worldwide.' According to the company, this fundraise, the first equity fundraise done by Biocon since its IPO in 2004, demonstrates the company's access to a diversified equity pool of capital. The final order book was well diversified in terms of investor type across domestic mutual funds, insurance companies and foreign institutional investors. Some of the leading names who participated in the issue included SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Life Insurance, Nippon India Mutual Fund, Mirae Asset Mutual Fund, Aditya Birla Mutual Fund, Franklin Templeton, SBI General Insurance, Government Pension Fund Global and Blackrock, the biotech firm further said. The proceeds from the QIP would be utilised towards purchase of outstanding optionally convertible debentures issued by Biocon Subsidiary, Biocon Biologics Limited, from Goldman Sachs India AIF Scheme - 1 and Goldman Sachs India Alternative Investment Trust AIF Scheme – 2. Also, proceeds would be used for repayment, pre-payment or redemption, in full or in part, of certain outstanding financial instruments issued and/or borrowings availed by the company, and/or meeting other financial commitments of the company; and for general corporate purposes, as per the company.
Economic Times
18-06-2025
- Business
- Economic Times
Sebi relaxes Esop norms for IPO-bound startup founders
In a major relief to startup founders looking to go public, Sebi on Wednesday approved a proposal to allow them to retain employee stock options (ESOPs) granted at least one year prior to filing preliminary IPO papers. Under the existing regulations, promoters are ineligible to hold or be granted share-based benefits, including ESOPs. If they hold such share-based benefits at the time of filing of draft red herring prospectus (DRHP), they have been required to liquidate such benefits prior to the IPO. This provision has been found to be impacting founders classified as promoters at the time of filing of DRHP, Sebi chairman Tuhin Kanta Pandey said the board approved a proposal to "facilitate founders who received such benefits at least one year prior to the filing of DRHP with the board, to continue holding, and/or exercising such benefits even after being specified as the promoter/s and the company becoming a listed entity". These proposals are expected to assist public companies who intend to list after undertaking reverse flipping -- shifting the country of incorporation from a foreign jurisdiction to India. This was the second board meeting under the chairmanship of Pandey, who assumed office on March 1. Additionally, the Sebi board approved a to rationalise the content of the placement document of Qualified Institutions Placement (QIP) by prescribing only the relevant information regarding the in QIPs, the issuer is required to disclose the details in the placement document as prescribed under ICDR (Issue of Capital and Disclosure Requirements) disclosures are detailed in nature and preparing a lengthy placement document is a time-consuming exercise that results in duplication of information, which is already available in the public domain."The board approved amendments to ICDR Regulations for simplifying and streamlining the placement document for qualified institutional placement by listed entities," Sebi said, adding this builds on the simplification and streamlining undertaken for rights issues by listed proposal factors in the availability of information for listed entities in the public domain, and reduces or eliminates duplication of such information in the placement document. Making disclosures has also been enabled in a summarised and concise form. Such areas of disclosure being simplified include risk factors being specified in relation to the issue, the objects of the issue and the material risks (dispensing with generic risk factors being disclosed), providing a summary of financial position (dispensing provision of complete financial statements) and providing a summary of issuer's business and the industry in which it operates.
