The Board at its meeting held on 05.05.2026 at 07:45 pm has proved the allotment of equity shares pertaining to the QIP issue.
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The Board of Afcom Holdings Ltd approved the allotment of 26,30,520 equity shares via a Qualified Institutions Placement (QIP). The shares were issued at Rs. 759.72 per share (including a Rs. 749.72 premium on a face value of Rs. 10), raising approximately Rs. 199.84 crores. The issue price is notably below the floor price of Rs. 799.62 per share, representing a discount of about 5% from the floor price. The QIP opened on May 4, 2026 and closed on May 5, 2026.
The QIP was issued at a discount to the floor price, which could signal weakness in demand or aggressive pricing to attract institutional buyers. The capital raise of ~Rs. 200 crore will strengthen the company's balance sheet.