Belrise Industries share price gains after ₹1,200 crore QIP launch

Belrise Industries launched a Qualified Institutional Placement (QIP) to raise up to Rs 1,200 crore, with a floor price of Rs 230.79 per share and a maximum allowed discount of 5%. The fund raise, earlier approved by shareholders for up to Rs 2,000 crore, could result in equity dilution of up to 5.78% of the post-issue share capital. The stock gained nearly 3% in early trade, having rallied about 97% over the past year.