Morepen Laboratories Ltd, a pharmaceutical company, has initiated a Qualified Institutional Placement (QIP) to raise a substantial amount of Rs 250 crore. The company has also included a greenshoe option to potentially increase the issue size by an additional Rs 115 crore.
Key Details of the QIP:
- Issue Size: Rs 250 crore with a greenshoe option of Rs 115 crore.
- Equity Shares: The company plans to issue 3.67 crore equity shares, with a 91.9 lakh green shoe option.
- Floor Price: The shares will be issued at a floor price of Rs 57.23 apiece, representing a discount of 9.2% from the previous closing price.
- Discount: Morepen Laboratories has the discretion to offer a further discount of up to 5% on the floor price.
