The company's fundraising committee on Monday, December 15, — approved ₹1,615.28 per equity share as the floor price for the QIP. The floor price is a 4.2% discount to Monday's closing price.
As per people familiar with the matter, the indicative issue price is ₹1,535 per equity share, which is a 9% discount to its previous close.
Zota Health Care may look to dilute up to 8.4% equity (6.3% through the base issue and 2.1% via green shoe) as part of the fund raising process through the QIP.
The company is set to use the proceeds for:
- Funding the working capital requirements of the firm.
- Invest in Davaindia Health Mart Ltd. for capital expenditure towards setting up new COCO stores in India.
- General corporate purposes, as per sources.
The contractual lock-up post the QIP is 90 days from the date of allotment by the firm and the promoters and promoter group, each.
Shares of Zota Healthcare are trading 0.6% higher on Tuesday at ₹1,698. The stock has more than doubled in value in the last 12 months, having gained over 113%.
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