Morgan Stanley invests in the ₹202 crore QIP of this diamond and jewellery exporter

Brokerage firm Morgan Stanley’s name features in the list of those institutions, who have been issued shares by diamond and jewellery exporter Goldiam International, as part of its Qualified Institutional Placement (QIP).In an exchange filing on Monday, Goldiam International said that its board has approved the issue of 61.22 lakh equity shares of face value of ₹2 each. The shares have been issued to eligible institutions, including Morgan Stanley, at a price of ₹330 per share, which is a discount of 5% to the QIP floor price.

With the issue of shares, the company as raised funds worth ₹202 crore.

Apart from Morgan Stanley, Saint Capital Fund, LC Pharos Multi Strategy Fund VCC, and Nova Global Opportunities Fund PCC – Touchstone, have also been issued shares by Goldiam, as part of its QIP.

Fund House	% Of QIP Shares
Saint Capital Fund	39.6%
Morgan Stanley Asia (Singapore) Pte.	13.02%
LC Pharos Multi Strategy Fund VCC	12.37%
Nova Global Opportunities Fund	6.93%

Promoters of Goldiam International had a 61.87% stake in the company at the end of the June quarter.Dalal Street Veteran Ramesh Damani features among the list of public shareholders of Goldiam International, with a 1.16% stake at the end of the June quarter. Investor Education and Protection Fund has a 1.14% stake.

None of the funds issued shares as part of the QIP had any prior stake in the company at the end of the June quarter.

Shares of Goldiam International ended 0.3% lower on Monday at ₹360.85. The stock is down 37% from its recent 52-week high of ₹569.