In April, contra/value equity mutual funds witnessed a 68% AUM jump to Rs 1,57,946 crore, attracting investors with a higher risk appetite. These funds invest in out-of-favour or undervalued stocks, offering potential returns amid market volatility.
Shyam Metalics and Energy concluded its qualified institutional placement (QIP), raising a total of Rs 1,385 crore. Veteran investor Madhusudan Kela, Europe s Societe Generale and Reliance Commercial Finance are among the many allottees.
In its filing to the exchanges on Friday, Shyam Metalics informed that the company s QIB Committee had approved the issue and allotment of over 2.40 crore equity shares of a face value of Rs 10 each to these QIBs at the issue price of Rs 576 per equity share aggregating to Rs 1,385.34 crore.
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