Fintech participant Angel One on Friday stated it has raised ₹1,500 crore by means of the Qualified Institutional Placement (QIP) route to fund working capital necessities of the corporate.
The difficulty, which was opened on March 26 and concluded on April 2, obtained an amazing response from each home and international institutional buyers, Angel One stated in an announcement.
The firm has allotted 58.71 lakh fairness shares to institutional buyers at a flooring value of Rs 2,555.01 apiece, aggregating the transaction dimension to ₹1,500 crore.
After the allotment of shares, the paid-up fairness share capital of the corporate stood at ₹8.98 crore.
The funds raised by means of QIP could be utilised for funding the margin obligations which might be fulfilled on behalf of the shoppers and the margin buying and selling facility offered to shoppers; future growth necessities and normal company objective.
“The successful completion of this QIP marks a significant milestone in our journey, as we capitalise the business for its future growth trajectory, thus strengthening our position in the industry,” Angel One Chairman and Managing Director Dinesh Thakkar stated.
“The capital market landscape has undergone significant changes in recent years, with a robust outlook and deepening penetration, driven by digitisation,” Mr. Thakkar added.
