Zota Health Care has raised close to ₹350 crore after its fundraising committee approved the allotment of equity shares under a qualified institutional placement (QIP). On December 18, the company allotted 22.8 lakh equity shares to eligible qualified institutional buyers at an issue price of ₹1,535 per share, aggregating to ₹349.99 crore.
Institutional Allotment Details
The QIP saw participation from several institutional investors. Valiant Mauritius Partners Offshore Ltd received 6.05 lakh equity shares, accounting for 26.57% of the total allotment. Valiant Mauritius Partners Ltd was allotted 3.71 lakh shares, representing 16.29%, while Ashoka Whiteoak ICAV – Ashoka Whiteoak India Opportunities Fund received 2.65 lakh shares, or 11.65%.
Whiteoak Capital Special Opportunities Fund was allotted 1.30 lakh shares, equivalent to 5.71%, and Whiteoak Capital Pharma Sanshi Fund-I received 1.62 lakh shares, accounting for 7.14%. Turnaround Opportunities Fund was allotted 1.14 lakh shares, representing 5% of the issue.
Among the participating entities, Valiant Mauritius Partners Offshore Ltd was the only existing shareholder prior to the QIP, holding a 1.84% stake in Zota Health Care as of the end of the September quarter, according to NSE data.
Impact on Share Capital
Following the allotment, Zota Health Care’s paid-up equity share capital increased to ₹33.17 crore, comprising 3.31 crore equity shares. This compares with a paid-up capital of ₹30.89 crore and 3.08 crore equity shares prior to the QIP, as disclosed by the company in its regulatory filing.
QIP Timeline and Pricing
The qualified institutional placement opened on December 15 and closed on December 17, 2025. While the floor price for the issue was fixed at ₹1,615.28 per equity share, the final issue price was determined at ₹1,535 per share.
Use of Proceeds
The company plans to utilise the funds raised to meet working capital requirements, invest in Davaindia Health Mart Ltd for capital expenditure related to the expansion of company-owned and company-operated stores across India, and for general corporate purposes.
Summary
Zota Health Care has raised ₹349.99 crore through a QIP by issuing 22.8 lakh equity shares to institutional investors at ₹1,535 per share. The fundraising has led to an increase in the company’s paid-up share capital and the proceeds are earmarked for working capital needs, expansion-related investments in Davaindia Health Mart, and general corporate activities.
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