Listing approval for 1.98 crore QIP shares of Rs 2 each
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On the reaction day the stock moved 0.3 pts more than Nifty Smallcap 250 and 0.2 pts more than its Hospital peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Krishna Institute of Medical Sciences received approval for listing of 1,98,67,549 equity shares of Rs 2 face value issued to qualified institutional buyers through a Qualified Institutional Placement. The QIP route allows listed companies to raise capital from institutions without a follow-on public offer. These new shares will now be tradable on the stock exchanges, expanding the total share count.
New shares add to the float, leading to dilution of existing holdings. Short-term supply pressure possible, though QIP indicates institutional confidence in the company.