Brigade Enterprises Limited has successfully closed its institutional share sale, raising ₹1,500 crore.
Key Details of QIP
Brigade Enterprises issued 1,30,43,479 equity shares at a price of ₹1,150 per share, which includes a premium of ₹1,140. The shares were allotted through a Qualified Institutions Placement (QIP), targeting institutional investors. As a result of this issuance, the company’s paid-up equity share capital has increased to ₹244.22 crore, comprising 24,42,24,410 equity shares of ₹10 each.
Notable Investors
The share sale attracted several high-profile institutional investors, each acquiring more than 5% of the offered equity shares. These include:
- ICICI Prudential Bharat Consumption Fund
- Kotak Small Cap Fund
- Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund
- Franklin India Multi Cap Fund
- Smallcap World Fund, INC
- SBI Infrastructure Fund
- Axis Mutual Fund Trustee LTD A/C Axis Mutual Fund A/C Axis Flexi Cap Fund
- Goldman Sachs Funds – Goldman Sachs India Equity Portfolio
Most of these investors were allotted 743,479 shares each, representing 5.7% of the total issue size. Goldman Sachs received a slightly smaller allocation of 722,474 shares, accounting for 5.539% of the issue.
