360 One WAM To Consider Fundraising Via QIP

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360 ONE WAM will use QIP to raise money:

The board of 360 ONE WAM ((formerly known as IIFL Wealth Management Limited) has scheduled a meeting for Thursday, September 19, 2024, to deliberate on the proposal to raise capital via the issuance of equity shares via various channels, including accredited institutions. The company announced that the board will assess the issuance of equity shares through a qualified institution placement (QIP) among other options in a notice to the stock exchanges.

The stock of 360 One Wam Ltd. has increased intraday:

Currently, 360 One Wam Ltd.’s stock is trading at Rs. 1,095.00 per share. As per the most recent update, the organization is progressively augmenting its funding via qualified institution placement (QIP). The stock has risen by almost 100% in the last year and has gained 55.5% so far this year.

One Wam Ltd., Q1 FY25 result:

On the back of a 61.1% increase in total revenue to Rs 935.54 crore in Q1 FY25 compared to Q1 FY24, the company’s consolidated net profit increased 32.6% to Rs 243.74 crore.

Conclusion: QIP (qualified institution placement) is the method by which 360 ONE WAM is raising funds for its upcoming expansion.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.