Zota Health Care Taps Institutional Investors: Raises Nearly ₹350 Crore

On Thursday, December 18, Zota Health Care shares came under pressure after the company’s fundraising committee approved the allotment of equity shares under its qualified institutional placement (QIP). The company issued 22.8 lakh equity shares to eligible qualified institutional buyers (QIBs) at an issue price of ₹1,535 per share, raising a total of ₹349.99 crore.

Details of QIP Allotment to Funds

As part of the QIP, the following institutional investors received equity shares:

• Valiant Mauritius Partners Offshore Ltd – 6.05 lakh shares (26.57%)
• Valiant Mauritius Partners Ltd – 3.71 lakh shares (16.29%)
• Ashoka Whiteoak ICAV – Ashoka Whiteoak India Opportunities Fund – 2.65 lakh shares (11.65%)
• Whiteoak Capital Special Opportunities Fund – 1.30 lakh shares (5.71%)
• Whiteoak Capital Pharma Sanshi Fund-I – 1.62 lakh shares (7.14%)
• Turnaround Opportunities Fund – 1.14 lakh shares (5%)

Among the participating funds, only Valiant Mauritius Partners Offshore Ltd. was already a shareholder, holding a 1.84% stake in Zota Health Care at the end of the September quarter, according to data from the National Stock Exchange (NSE).

Following the QIP allotment, Zota Health Care’s paid-up equity share capital increased to ₹33.17 crore, comprising 3.31 crore equity shares, from ₹30.89 crore and 3.08 crore equity shares earlier, the company said in a filing.

QIP Timeline

The QIP opened on December 15 and concluded on December 17, 2025. The floor price for the issue was fixed at ₹1,615.28 per equity share, while the final issue price was set lower at ₹1,535 per share.

The funds raised will be deployed towards meeting working capital requirements, making investments in Davaindia Health Mart Ltd. for capital expenditure related to the expansion of COCO (company-owned, company-operated) stores across India, and for other general corporate purposes as mentioned in the news reports.

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