The Qualified Institutional Placement (QIP) of Zen Technologies opened today and the company has set the floor price at 1,685.18 per equity share. This is a 6% discount over the today’s closing price of Rs 1782.95 on the NSE.
The issue size is Rs 800 crore according to CNBC TV18. On January 27, 2024, the company’s board had accorded its approval to the fund raising plan not exceeding Rs 1,000 crore.
The company said that it could offer a discount of up to 5% on the floor price of the issue. The stock today jumped by Rs 84.90 or 5% over the Tuesday closing price.
The board in its meeting held today authorised the opening of the issue while setting the floor price.
