Latest news with #QIP
News18
5 hours ago
- Business
- News18
Rajoo Engineers raises Rs 160 via QIP issue, FII holding up at 3.8 pc
Mumbai, Jul 23 (PTI) Plastic extrusion machinery manufacturer Rajoo Engineers Ltd has raised Rs 160 crore through a qualified institutional placement issue, driven by strong demand from both domestic and global investors, the company said on Wednesday. Morgan Stanley Asia (Singapore), HDFC Bank, Rajasthan Global Securities, Moneywise Financial Services, Credit Access Life Insurance Limited, BNP Paribas Financial Markets – ODI are among the institutional investors that participated in the issue, the company said in a statement. 'The QIP was executed through the issuance of 1,46,78,900 equity shares at Rs 109 per share (face value Re 1 each). The QIP issue closed on July 21," it added. Foreign Institutional Investor (FII) holding has increased to 3.8 per cent and domestic institutional investor (DII) holding has risen to 4.46 per cent post-issue. 'This successful fundraise of Rs 160 crore marks a significant milestone in our journey. We are committed to leveraging this capital to further scale our operations and create long-term value for our stakeholders," Rajoo Engineers Managing Director Khushboo Doshi said. The company plans to utilise the net proceeds to pursue inorganic growth through strategic acquisitions aimed at expanding scale, product offerings and market presence. PTI HG SHW Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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Business Standard
6 hours ago
- Business
- Business Standard
SBI eyes spot among world's top 10 banks by market value in 5 years
The country's largest lender, State Bank of India (SBI), is looking to be among the top 10 global banks in market capitalisation over the next five years. C S Setty, chairman, SBI, said, 'The scope for value creation for the stakeholders is potentially very high. So the larger ambition is, if the market supports, whether we can be part of the top 10 global banks in terms of the market capitalisation (five years).' 'The effort is to ensure that we are consistent in our performance—financial performance, improvement in market share (of deposits and advances) and customer satisfaction,' he said after the listing of shares issued under QIP at NSE. SBI's market capitalisation has risen from Rs 3.25 trillion at the end of March 2021 to Rs 4.40 trillion in FY22, Rs 4.67 trillion in FY23, Rs 6.71 trillion in FY24 and Rs 7.13 trillion at the end of March 2025, according to its analysts' presentation for FY25. The market capitalisation based on Wednesday's trading price stood at Rs 7.53 trillion. The QIP was oversubscribed 4.5 times, with foreign investors accounting for 64.3 per cent of total demand. Marquee long-term investors received approximately 88 per cent of the final allocation, including 24 per cent of the issue size placed with foreign long-term investors. 'We knew that it would be oversubscribed, but this kind of overwhelming response (4.5 times) is a pleasant surprise for us,' Setty said. The bank issued 306 million equity shares to Qualified Institutional Buyers (QIBs) at a price of Rs 817 (including a premium of Rs 816.00 per equity share), aggregating Rs 25,000 crore. The issue opened on 16 July 2025 and closed on 21 July 2025. The capital will augment SBI's Common Equity Tier-1 (CET-1) buffer. The CET-1 will rise to approximately 11.50 per cent from 10.81 per cent as on 31 March 2025, supporting calibrated credit growth across retail, MSME and corporate segments. As for raising debt capital, Setty said additional Tier-I (AT1) bonds would essentially be for replacing the existing Tier-I paper maturing over a period. The Tier-II would be a mix of replacement and new funds. The bank's board has given the nod for raising up to Rs 20,000 crore via AT1 and Tier-II bonds. Asked about further reduction in term deposit rates, he said, 'About the industry, I think the interest rates are easing on the deposits.' The bank has already slashed short-term deposit rates by up to 60 basis points so far in the current financial year. In June, it also reduced interest rates on savings bank deposits to 2.5 per cent from 2.7 per cent earlier. The bank has recently cut the Marginal Cost of Funds-based Lending Rate (MCLR)—a benchmark for lending to businesses—by 15 or 20 basis points across tenors. 'MCLR is formula driven; it gets readjusted as we move forward,' he added. He declined to elaborate on interest rates, citing a silent period ahead of results for Q1FY26.
Mint
7 hours ago
- Business
- Mint
Small-cap stock under ₹200 declares ₹160 crore fundraise through QIP. Check details
Rajoo Engineers, the plastic extrusion machinery manufacturer, on Wednesday, has announced raising ₹ 160 crore through Qualified Institutional Placement (QIP). Rajoo Engineers QIP was executed through the issuance of 1,46,78,900 equity shares at ₹ 109.00 per share (face value ₹ 1 each). The QIP opened on July 15, 2025 and closed on July 21, 2025. Institutional investors, including Morgan Stanley Asia (Singapore), Rajasthan Global Securities Pvt. Ltd., Moneywise Financial Services Pvt. Ltd, HDFC Bank, Credit Access Life Insurance, BNP Paribhas Financials Markets – ODI, Dovetail India Fund - Class 14, among others, participated in the QIP. 'This QIP has significantly enhanced Rajoo's institutional investor base, with Foreign Institutional Investor (FII) holding increasing to 3.8% and Domestic Institutional Investor (DII) holding rising to 4.46% post- issue,' Rajoo Engineers said in a release on July 22. The company plans to utilize the net proceeds to pursue inorganic growth through strategic acquisitions aimed at expanding scale, product offerings and market presence. The acquisition strategy focuses on complementary businesses, geographic expansion, technological advancement and synergy-driven growth opportunities, it added. Rajoo Engineers share price has gained 13% in one month, but has fallen 15% three months and declined 38% over the past six months. On a year-to-date (YTD) basis, the smallcap stock has dropped 44%, while it has declined 13% in one year. However, in the long-term, Rajoo Engineers share price has delivered stellar returns as the small-cap stock has jumped 595% in two years and skyrocketed 3,685% over the past five years. At 11:20 AM, Rajoo Engineers share price was trading 2.61% lower at ₹ 130.60 apiece on the BSE.
Mint
8 hours ago
- Business
- Mint
Small-cap stock under ₹200 declares ₹160 crore fundraise through QIP. Check details
Rajoo Engineers, the plastic extrusion machinery manufacturer, on Wednesday, has announced raising ₹ 160 crore through Qualified Institutional Placement (QIP). Rajoo Engineers QIP was executed through the issuance of 1,46,78,900 equity shares at ₹ 109.00 per share (face value ₹ 1 each). The QIP opened on July 15, 2025 and closed on July 21, 2025. Institutional investors, including Morgan Stanley Asia (Singapore), Rajasthan Global Securities Pvt. Ltd., Moneywise Financial Services Pvt. Ltd, HDFC Bank, Credit Access Life Insurance, BNP Paribhas Financials Markets – ODI, Dovetail India Fund - Class 14, among others, participated in the QIP. 'This QIP has significantly enhanced Rajoo's institutional investor base, with Foreign Institutional Investor (FII) holding increasing to 3.8% and Domestic Institutional Investor (DII) holding rising to 4.46% post- issue,' Rajoo Engineers said in a release on July 22. The company plans to utilize the net proceeds to pursue inorganic growth through strategic acquisitions aimed at expanding scale, product offerings and market presence. The acquisition strategy focuses on complementary businesses, geographic expansion, technological advancement and synergy-driven growth opportunities, it added. Rajoo Engineers share price has gained 13% in one month, but has fallen 15% three months and declined 38% over the past six months. On a year-to-date (YTD) basis, the smallcap stock has dropped 44%, while it has declined 13% in one year. However, in the long-term, Rajoo Engineers share price has delivered stellar returns as the small-cap stock has jumped 595% in two years and skyrocketed 3,685% over the past five years. At 11:20 AM, Rajoo Engineers share price was trading 2.61% lower at ₹ 130.60 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Upturn
a day ago
- Business
- Business Upturn
Rajoo Engineers raises Rs 160 crore via QIP; investor participation includes Morgan Stanley, HDFC Bank, BNP Paribas
Rajoo Engineers Ltd, a prominent manufacturer of plastic extrusion machinery, has successfully raised ₹160 crore through a Qualified Institutional Placement (QIP), reinforcing strong market confidence in its growth strategy. The company issued 1.47 crore equity shares at a price of ₹109 per share in the offering that closed on July 21, 2025. The QIP received an enthusiastic response from both domestic and international institutional investors. Notable participants included Morgan Stanley Asia (Singapore), HDFC Bank Limited, BNP Paribas Financial Markets – ODI, Credit Access Life Insurance, and Rajasthan Global Securities Pvt. Ltd., among others. As a result of the QIP, Foreign Institutional Investor (FII) holding in Rajoo has increased to 3.8%, while Domestic Institutional Investor (DII) holding has risen to 4.46%. Advertisement Khushboo Doshi, Managing Director of Rajoo Engineers Ltd, remarked, 'This successful fundraise of ₹160 crore marks a significant milestone in our journey. The enthusiastic response from institutional investors underscores the trust in our business fundamentals, innovation-led strategy, and long-term vision. We are committed to leveraging this capital to further scale our operations and create long-term value for our stakeholders.' Fund utilization and growth plans The company plans to use the proceeds from the QIP to pursue inorganic growth through strategic acquisitions. These acquisitions will be targeted at expanding scale, enhancing product offerings, and entering new geographic markets. Rajoo said the strategy focuses on complementing its core business, advancing technology, and creating operational synergies.
