Pharmaceutical giant Wockhardt Ltd has announced that its Capital Raising Committee has approved its Qualified Institutional Placement (QIP).
The floor price for the QIP has been set at Rs 544.02 per share. Sources familiar with the matter informed CNBC-TV18 that the total issue size is expected to be Rs 570 crore, comprising fresh shares of Rs 350 crore and a greenshoe option of Rs 220 crore.
The Capital Raising Committee is scheduled to reconvene on March 26 to finalize the issue price for the QIP and other relevant details. As per the terms, Wockhardt may offer a discount not exceeding 5 percent of the floor price when determining the issue price.
