Double QIP action: Inox Green, Wheels India shares soar as fundraises kick off- Check floor price, discount, other info

QIP corner: Shares of Inox Green Energy Services Limited and Wheels India Limited surged during Friday’s trading session after the two announced fundraise via qualified institutions placement (QIP). Inox Green Energy share price was up nearly half percent after it announced QIP for ₹300 crore fundraise.
Wheels India stock was up close to 2.57% during Friday’s intraday trading session after announcing ₹250 crore fundraise via QIP. Here are all the details to know about Inox Green QIP and Wheels India QIP. Inox Green QIP opening date, floor priceInox Green Energy Services QIP opened on Thursday, September 24, after the company’s board of directors approved the opening of the issue.

The QIP floor price for the issue is fixed at ₹174.36 per equity share. The QIP floor price formula has been derived based on the pricing formula as prescribed under the SEBI ICDR Regulations. Inox Green Energy Services discount optionThe company may offer a discount of not more than 5% on the floor price for the QIP.
“The Company may at its discretion offer a discount of not more than 5% on the floor price calculated for the Issue,” stated the firm in its BSE filing. Wheels India QIP floor priceWheels India QIP floor price was fixed at ₹2,197.10 per equity share.

The issue price was calculated based on the pricing formula derived under the SEBI regulation. Wheels India QIP discountThe company is offering a discount of not more than 5% on the floor price calculated for the issue. The QIP discount percentage is the reduction offered on a stock's regulated floor price when listed company issues new shares to institutional buyers.
Inox Green share price trendInox Green Energy Services share price was trading 0.86% higher at Rs175.75 per share on BSE with an MCap of ₹7,056.22 crore. The stock dipped to an intraday low of ₹172 per share. Its share price valuation has surged 25.65% in six months and around 183.33% in three years.

Wheels India share price trendShares of Wheels India were up 2.44% at ₹2,238.60 per share on BSE with a market capitalisation of ₹5,482.16 crore at 11:34 am. The stock surged to an intraday high of ₹2,296.55 per share and an intraday low of ₹2,194.50 per share.
The auto ancillary stock has delivered 50% return in one month and around 106.18% return in six months. The company scrip value has surged close to 157% in one year and around 184% in two years.