Other Deals - Listed Firms
Defence simulation equipment maker Zen Tech raises Rs.1,000-Cr via QIP
Hyderabad-based defence simulation training equipment and counter drone solutions provider Zen Technologies has raised INR 1,000 crore through its first qualified institutional placement (QIP).The company allocated more than 62.46 lakh equity shares, each with a face value of INR 1, to qualified institutional buyers at an issue price of INR 1,601 per share. The QIP was oversubscribed around 5 times.Kotak Mutual Fund, White Oak Offshore Fund, White Oak Mutual Fund, Motilal Oswal Mutual Fund and Bandhan Mutual Fund were among the key investors who participated in the QIP.The proceeds will be deployed to explore inorganic growth opportunities and for funding working capital requirements.
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