Shares of Zaggle Prepaid Ocean Services Ltd surged over 2% on December 24, following the company’s announcement of raising ₹595 crore via a Qualified Institutional Placement (QIP). The stock was trading at ₹539.85, up 2.07%, as of 9:39 AM.
Key Highlights of the QIP:
- Funds Raised: The company raised ₹594.84 crore through QIP.
- Shares Allotted: 1.14 crore equity shares were allotted to qualified institutional buyers.
- Issue Price: Shares were issued at ₹523.20 each, reflecting a 5% discount to the floor price of ₹550.73.
- Increase in Share Capital: Post-allotment, the paid-up equity share capital of Zaggle increased from ₹12.28 crore (12.28 crore equity shares) to ₹13.42 crore (13.42 crore equity shares).
Stock Performance:
Zaggle’s stock has shown robust performance, with a year-to-date gain of 140.39% and a one-year return of 138.21%. The shares are up by 1.72% today, trading at ₹539.85, compared to the previous close of ₹528.90.
About Zaggle Prepaid Ocean Services Ltd:
Zaggle Prepaid Ocean Services specializes in providing cutting-edge prepaid solutions and expense management systems. Its comprehensive portfolio caters to various industries, offering streamlined financial and operational solutions.
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