Epigral Ltd, formerly known as Meghmani Finechem Ltd, successfully completed a Qualified Institutional Placement (QIP), raising Rs 333.05 crore. The issue was priced at Rs 2,093.13 per share, indicating strong market confidence in the company’s value and future prospects.
The QIP attracted significant interest from major institutional players, including HSBC AMC, Bandhan AMC, HDFC AMC, ITI AMC, and Morgan Stanley. This broad participation underscores the strong reputation and potential of Epigral in the chemical manufacturing sector.
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With the funds raised, Epigral Ltd plans to fuel its growth initiatives. This capital infusion will support the expansion and enhancement of the company’s manufacturing capabilities, ensuring it remains competitive in the dynamic chemical industry.
In total, Epigral issued 15.91 lakh shares through this QIP at the price of Rs 2,093.13 each. This strategic move was aimed at securing the necessary funding to propel the company forward without significantly diluting existing shareholders’ equity.
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Post-QIP, the total number of outstanding fully diluted equity shares increased to 4.31 crore, up from 4.16 crore. This increase reflects the new shares issued and contributes to the broader capital base of the company, facilitating future financial flexibility.
The successful completion of the QIP and the subsequent equity expansion highlight Epigral Ltd’s solid market position and commitment to growth. The company is set to continue its trajectory of innovation and expansion in the chemical manufacturing industry.
