Abu Dhabi Investment takes part in Vedanta’s QIP
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![Abu Dhabi Investment takes part in Vedanta’s QIP Abu Dhabi Investment takes part in Vedanta’s QIP](https://www.bizzbuzz.news/h-upload/2024/07/22/1931408-vedanta.webp)
New Delhi: Mining conglomerate Vedanta Ltd raised Rs8,500 crore (over $1 bn) through Qualified Institutions Placement (QIP) of 19.31 crore equity shares at an issue price of Rs440 per share, according to a stock exchange filing by the company.
The issue, which closed on July 19, implied a discount of 4.61 per cent to the floor price of Rs461.26 per equity share. In a stock exchange filing, Vedanta said it sold 19.31 crore shares to raise Rs8,500 crore. Some of the marquee investors that have been allotted equity shares through the QIP include Abu Dhabi Investment Authority (ADIA), Goldman Sachs AMC, Nippon Mutual Fund, SBI Mutual Fund, UTI Mutual Fund, ICICI Mutual Fund, Aditya Birla Mutual Fund and Mirae Mutual Fund.
Various funds run by Nippon Mutual Fund were allotted 9.11 per cent of the total issue size, while funds managed by Morgan Stanley and SBI Mutual Fund received 8.62 per cent and 7.88 per cent, respectively. Speaking on the occasion, Vedanta chairman Anil Agarwal, in a press release, said, “the overwhelming response to the Vedanta QIP underscores the huge confidence that the global investor community has in Vedanta - our unique set of irreplaceable world-leading assets, our quest for operational and cost excellence, and the solidity of our strategic future growth projects.”