Blue Star, a leading cooling products manufacturer, has initiated a qualified institutions placement (QIP) offer with a floor price of Rs 784.55 per equity share, aiming to raise Rs 1,000 crore to support its growth initiatives. The floor price is approximately 2.04% lower than the closing price of Blue Star’s shares on the BSE on the previous trading day, which was Rs 800. The company’s Executive Management Committee approved the QIP offer and floor price, and they plan to offer a discount of up to 5% on the floor price to QIP buyers. The funds raised will be used for various corporate purposes, including retiring debt and supporting growth objectives.
Blue Star Launches QIP to Raise Rs 1,000 Crore with Floor Price at Rs 784.55
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