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Wockhardt is an Indian Pharmaceutical Company which was started way back in the year 1960 and is presently headquartered at Mumbai.
Of Late Wockhardt’s Capital Raising Committee has arranged a meeting and after a good discussion they came to a conclusion about the approval of launching Qualified Institutional Placement. This meeting was held on 20 March 2024 and the decision to launch QIP was announced the same day.
On Wednesday the closing price was ₹ 546.15 and floor price for QIP was also fixed very near to closing price i.e. ₹ 544.02 apiece. As of now, the amount funds the company is planning to raise through QIP is not known.
What is QIP ?
If you are not aware of what QIP is , here is the meaning : ” Through Qualified Institutional Placement QIP, companies usually raise the funds, from the eligible institutional buyers. Usually QIB’s are mutual funds, banks, Insurance companies etc. It is usually easy and simplest way to raise funds.
QIP Price of Wockhardt
Fund Raising Committee of Wockhardt is going to held a meet once again on March 26th, 2024. On that they will announced all the details of QIP like amount they are planning to raise, issue price and the purpose of raising capital.
As per the sources said to CNBC TV18, the issue price would be around ₹ 570 crore.
Price History of Wockhardt :
Wockhardt share price in 2013 was almost ₹ 2000 and it is now trading at ₹ 555. In the last 1 Year stock price of Wockhardt has almost increased by 270% .
Wockhardt stock has seen lowest price of ₹ 160 during Corona crash there after the stock has recovered and the stock price moved to almost ₹ 700 by the mid of 2021 which is almost 200% from its low.
Fundamentals :
Market Value of the Company is approximately ₹ 7800 Cr and its Debt to Equity Ratio is roughly 0.73.
Coming to shareholding, in the month of December 2022 promoters share holding was around 60.36% and by December 2023 , their holdings has been decreased to 54.93%.
For the last few years, Wockhardt’s profit is almost negative. In the year 2022 they have shown a profit of -279 crores and in the year 2023 it was around -600 Crores.
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