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Wockhardt share price hits upper circuit of 5% as it raises ₹480 crore via QIP: What's happening
Wockhardt share price: Wockhardt stock was in the upper circuit of 5% at ₹555.80 on BSE and a total of 3935 shares of the firm changed hands.
Wockhardt share price: Shares of Wockhardt Ltd hit upper circuit of 5% today (March 27) after the firm said it raised ₹480 crore via Qualified Institutional Placement (QIP) of shares. Wockhardt said that the capital raising committee approved the issue and allotment of 92,85,163 Equity Shares to eligible QIBs at an issue price of ₹517 per share- a 5% discount to the QIP floor price of ₹544.02 per share. The QIP of shares was open from March 20 to March 26.
Wockhardt share performance today
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Wockhardt stock was in the upper circuit of 5% at ₹555.80 on BSE and a total of 3935 shares of the firm changed hands which amount to a turnover of ₹21.80 lakh on BSE. The company's market capitalisation rose to ₹8,009 crore on BSE. Relative strength index (RSI) of the stock stands at 47.9 while the Wockhardt stock is trading higher than 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.
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Wockhardt share past performance
Wockhardt share hit a 52-week high of ₹630 on March 1 this year and a 52-week low of ₹145.35 on March 29 in 2023. The stock has gained 18.27 per cent since the beginning of this year. Overall, in one year it has risen 267.84%.
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What changes after the QIP?
Owing to the QIP, the paid-up equity share capital of the firm will rise to ₹76.7 crore, comprising 15.34 crore equity shares of face value of ₹5 each from ₹72.05 crore consisting of ₹14.41 crore shares of face value of ₹5 each.
