Gravita India Limited — QIP/Rights/Pref., 19-12-2024: Qualified Institutional Placement

Gravita India Ltd. has announced a board meeting regarding the closure of its Qualified Institution Placement (QIP). The QIP, which opened on 16th December, has priced 47,70,537 equity shares at ₹ 2,096.20 each, inclusive of a premium of ₹ 2,094.20, reflecting a 5% discount to the floor price. This closure comes after receiving applications from eligible qualified institutional buyers. The funds raised are intended to enhance the company’s financial strength and support strategic initiatives. The allocation confirmation will be sent to participating QIBs.