Anant Raj raises ₹1,100 crore via QIP — These funds were issued majority of the shares

Shares of Anant Raj Ltd., the real estate player and a potential data center play, will be in focus on Tuesday, October 14, after the company closed its Qualified Institutional Placement (QIP), thereby completing its fund raising exercise.In an exchange filing, Anant Raj said that its board has approved the issuance of 1.66 crore equity shares to eligible institutional bidders. The issue price of the QIP has been fixed as ₹662 per share, which is a 5% discount in comparison to the floor price of the issue.

The issue price of the QIP is at a 3.2% discount in comparison to Anant Raj’s closing price on Monday.

Societe Generale, BNP Paribas, Morgan Stanley, are some of the funds who were issued shares as part of the QIP.

Fund	% Of QIP
Societe Generale	19.5
BNP Paribas Financial Markets	11.7
Morgan Stanley	10.4
Jupiter India Fund	7.38
Kotak Mahindra Life Insurance	6.81

More than 50% of the total shares as part of the QIP have been allotted to these five institutions.Anant Raj had launched the fund raising exercise on October 7.

Post the allotment of these QIP shares, the paid-up equity share capital of the company increases from ₹68.65 crore, comprising of 34.32 crore shares, to ₹71.97 crore, comprising of 35.98 crore shares.

Shares of Anant Raj ended 1.3% lower on Monday at ₹684.9. The stock has risen 16% in the last one month, but on a year-to-date basis has remained an underperformer, declining 20% so far this year.