Business

Brigade Enterprises launches QIP problem to increase funds around Rs 1,500 cr Headlines on Markets

.Its market capitalisation at Monday's closing rate endured at much more than Rs 28,000 crore Photo: Bloomberg2 min read through Final Upgraded: Sep 03 2024|10:19 AM IST.Bengaluru-based Unit Enterprises intends to raise around Rs 1,500 crore through marketing equity portions to institutional investors as portion of its own approach to extend service.The business on September 2 launched its Qualified Institutional Placement (QIP) concern to elevate funds.In a regulatory filing late on Monday, Brigade Enterprises updated that a committee of directors authorised the position of the QIP Issue on Monday.The board additionally permitted the flooring price for the QIP problem at Rs 1,164.70 per equity Allotment.The provider's share rate closed at Rs 1,239.80 each on the BSE.Its market capitalisation at Monday's closing price stood up at greater than Rs 28,000 crore.In March, Brigade Enterprises had taken authorization coming from investors to elevate funds via the problem of securities up to Rs 1,500 crore.Unit Enterprises is just one of the leading property programmers in the country along with a considerable presence in South India.Final month, Unit Enterprises mentioned much more than two-fold enter combined web profit at Rs 83.72 crore for the June quarter of the existing .Its internet income stood up at Rs 38.53 crore in the year-ago period.Complete profit rose to Rs 1,113.44 crore throughout April-June FY25 from Rs 685.43 crore in the matching period of the previous year.( Just the title and image of this report might have been reworked by the Organization Standard staff the remainder of the information is actually auto-generated from a syndicated feed.) First Released: Sep 03 2024|10:19 AM IST.