In an exchange filing on Wednesday evening, Wockhardt disclosed that its Capital Raising Committee has given the green light for the initiation of the company’s Qualified Institutional Placement (QIP).

The floor price for the QIP has been fixed at Rs 544.02 per share, almost matching Wockhardt’s closing price of Rs 546 on Wednesday. Reports indicate that the total issue size is expected to reach Rs 570 crore, comprising an issue size of Rs 350 crore and a greenshoe option valued at Rs 220 crore.

Reports further suggest that the indicative issue price stands at Rs 517 per share, reflecting a 5.3% discount to Wednesday’s closing price. The potential utilization of the greenshoe option could result in a total equity dilution post-QIP of approximately 7.11% of the post-issue paid-up equity share capital.