Time Technoplast allots shares via QIP at Rs 201.12, raises about Rs 800 crore
TIMETECHNO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.4 pts more than Nifty Microcap 250 and 1.0 pts more than its Plastic Products - Industrial peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Time Technoplast has allotted 3.97 crore equity shares to qualified institutional buyers through a QIP at Rs 201.12 per share, including a 5 percent discount on the floor price of Rs 211.70. Total issue size is about Rs 800 crore. Notable allottees include 3P India Equity Fund 1 at 18.13 percent, Axis Mutual Fund at 10.50 percent, Aberdeen at 7.93 percent, 3P India Equity Fund 1M at 6.88 percent, and Abrdn New India Investment Trust at 6.53 percent. Paid-up equity capital rose from Rs 45.38 crore to Rs 49.36 crore.
Raises about Rs 800 crore for the company but adds around 9 percent equity dilution for existing shareholders.