Capri Global QIP: Stock drops 5% as floor price fixed at 15% discount; key details

Shares of Capri Global Capital Ltd fell 5 per cent in Tuesday's trade, as the NBFC fixed floor price for its qualified institutional placement (QIP) at Rs 153.93 apiece, which was at 15.21 per cent discount to the Monday's closing price of Rs 181.55 per share. The scrip fell 5.01 per cent to hit a low of Rs 172.45 on BSE. With this, the stock is down 16 per cent in the past six months. 

Pursuant to the approval of the board of directors at its meeting held on August 3, 2024, and pursuant to the special resolution passed by the shareholders of the Capri Global at the Annual General Meeting dated September 19, 2024, the QIP Committee of the company board on June 9 authorised the opening of the issue June 9. 

In a filing to stock exchanges, Capri Global said: "We further wish to inform you that the ‘relevant date’ for the purpose of the Issue, in terms of the Regulation 171(b)(i) of the SEBI ICDR Regulations, is June 09, 2025 and accordingly the floor price in respect of the aforesaid Issue, based on the pricing formula as prescribed under Regulation176(1)of the SEBI ICDR Regulations is ₹153.93 per Equity Share." 

Pursuant to Regulation 176(1) of the SEBI ICDR Regulations and the approval of the shareholders, accorded through a special resolution at the annual general meeting dated September 19, 2024, the Capri Global said it may offer a discount of not more than 5 per cent on the floor price so calculated for the issue. The issue price would not be less than the price determined in accordance with the pricing formula provided under Chapter VI of the SEBI ICDR Regulations. 

"The issue price will be determined by the company in consultation with the book running lead manager appointed for the issue," it said on the Rs 2,000 crore QIP.

"Further, as per SEBI (Prohibition of Insider Trading) Regulations, 2015 and the Company’s Prevention of Insider Trading Code of Conduct to regulate, monitor and report trading by Designated Persons and their immediate relatives(s) (“Code”), the trading window for dealing in the securities of the Company had already been closed from May 22, 2025 till 48 hours after determination of issue price for all ‘Designated Persons’ as defined in the Code," Capri Global said.