Jupiter Wagons Completes QIPs of Equity Shares
Jupiter Wagons Limited successfully completed QIP, issuing 1,22,04,424 equity shares at ₹655.50 each, raising ₹80,000 Lakhs for growth and corporate purposes.
by Damodharan N
Updated Jul 12, 2024
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Jupiter Wagons Limited has successfully completed its Qualified Institutions Placement (QIP) of equity shares under the SEBI ICDR Regulations and Companies Act, 2013. The company's Fund Raising Committee, in a meeting held on July 12, 2024, approved the issuance and allotment of 1,22,04,424 equity shares to qualified institutional buyers at an issue price of ₹655.50 per share, including a premium of ₹645.50 per share.
This issuance amounted to ₹80,000 Lakhs. The QIP commenced on July 8, 2024, and concluded on July 11, 2024. The Committee also disclosed that the issue price included a discount of ₹33.97 per share, which is 4.93% lower than the floor price of ₹689.47 per share as per SEBI ICDR Regulations.
Notable institutional investors such as Morgan Stanley Asia (Singapore) Pte., Bank of India Mutual Fund, and Edelweiss Mutual Fund participated significantly in the placement, with Morgan Stanley Asia (Singapore) Pte. being the largest allottee, receiving 11,79,254 equity shares (9.66% of the total issue size).
Following the allotment, Jupiter Wagons' paid-up equity share capital has increased from ₹4,12,29,36,250, comprising 41,22,93,625 equity shares, to ₹4,24,49,80,490, comprising 42,44,98,049 equity shares. The company plans to utilize the funds raised for strategic growth initiatives and general corporate purposes.
The meeting of the Fund Raising Committee commenced at 01:30 p.m. and concluded at 02:00 p.m. on July 12, 2024.
Read the full Announcement Here
Jupiter Wagons
Jupiter Wagons Limited, part of The Jupiter Group, is a comprehensive mobility solutions provider with over 40 years of experience and a group revenue exceeding Rs. 2000 crore.
The company manufactures a wide range of products, including various types of railway wagons, couplers, draft gears, rail bogies, and specialized vehicles for roadways and defense.
Major customers include Indian Railways, Tata Motors, Reliance Industries, and various global clients. Jupiter Wagons has strategic joint ventures with international partners like DAKO-CZ, KOVIS D.O.O, and Talleres Alegria, enhancing their product offerings and technological capabilities in brake systems and railway track components.
The company is positioned for future growth with its diversified and innovative product portfolio.
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Jupiter Wagons completes QIPs of Equity Shares - FAQs
1. What did Jupiter Wagons Limited recently complete?
Jupiter Wagons Limited recently completed a Qualified Institutions Placement (QIP) of equity shares under SEBI ICDR Regulations and the Companies Act, 2013.
2. When did the QIP start and end?
The QIP commenced on July 8, 2024, and concluded on July 11, 2024.
3. How many equity shares were issued in the QIP?
A total of 1,22,04,424 equity shares were issued to qualified institutional buyers.
4. What was the issue price per share?
The issue price per share was ₹655.50, which included a premium of ₹645.50 per share.
5. What is the premium included in the issue price?
The premium included in the issue price was ₹645.50 per share.
6. How much money did Jupiter Wagons raise through the QIP?
Jupiter Wagons raised ₹80,000 Lakhs through this QIP issuance.
7. What was the discount on the issue price compared to the floor price?
The issue price included a discount of ₹33.97 per share, which is 4.93% lower than the floor price of ₹689.47 per share as per SEBI ICDR Regulations.
8. Who were some notable investors in the QIP?
Notable institutional investors included Morgan Stanley Asia (Singapore) Pte., Bank of India Mutual Fund, and Edelweiss Mutual Fund. Morgan Stanley Asia (Singapore) Pte. was the largest allottee.
9. What is the new paid-up equity share capital of Jupiter Wagons after the QIP?
After the QIP, the paid-up equity share capital of Jupiter Wagons increased from ₹4,12,29,36,250 to ₹4,24,49,80,490.
10. What will Jupiter Wagons use the raised funds for?
Jupiter Wagons plans to use the funds raised for strategic growth initiatives and general corporate purposes.
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