KEI Industries Limited successfully raised ₹20,000 million (₹2,000 crore) through a Qualified Institutions Placement (QIP) by allotting 52,63,157 equity shares at an issue price of ₹3,800 per share. This issue price represents a discount of ₹80.54 to the floor price of ₹3,880.54, as per SEBI ICDR Regulations.
Key Highlights:
- Capital Raise Details:
- The allotment was approved by the Fund Raising Committee during its meeting on November 28, 2024.
- The shares were allocated to 104 qualified institutional buyers, significantly enhancing the company’s paid-up equity share capital.
- Post-Issue Capital Structure:
- The company’s paid-up equity share capital has increased to ₹19,11,05,190, representing 9,55,52,595 equity shares.
- Top Allottees:
- Major participants in the QIP included prominent funds such as Kotak Emerging Equity Scheme, ICICI Prudential Balanced Advantage Fund, and Government Pension Fund Global.
- Kotak Emerging Equity Scheme received the largest allocation of 8,12,098 equity shares, constituting 15.43% of the total issue.
Key Investors and Allocations:
| Name of Allottee | No. of Shares Allotted | % of Issue Size |
|---|---|---|
| Kotak Emerging Equity Scheme | 8,12,098 | 15.43% |
| ICICI Prudential Balanced Advantage Fund | 1,95,488 | 3.71% |
| Government Pension Fund Global | 2,71,053 | 5.15% |
| Motilal Oswal Midcap Fund | 6,84,211 | 13.00% |
Usage of Funds:
The funds raised through this QIP will likely be used to strengthen the company’s operations, expand its manufacturing capabilities, and support its growth strategy in the cable and electrical infrastructure segments.
