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Zota Health Care Raises INR 350 Crore via QIP, Onboards MS Dhoni and Suniel Shetty as Brand Ambassadors
Surat-based Zota Health Care raises Rs 350 Cr from QIBs at Rs 1,535/share, plans 5,000+ generic stores by 2029 with current 1,373 COCO stores.
Surat (Gujarat) [India], December 25:Zota Health Care Limited (NSE: ZOTA), a leading generics pharmacy retailer in India, has raised Rs 350 crores from a group of marquee investors through a Qualified Institutional Placement (QIP) issue and signed former Indian cricket captain Mahendra Singh Dhoni and Bollywood actor Suniel Shetty as its brand ambassadors.
The Surat-headquartered company allotted 22,80,130 shares to eligible Qualified Institutional Buyers (QIBs), including foreign portfolio investors, alternative investment funds, and mutual funds, at an issue price of Rs. 1,535 per share. Investors who participated in the issue include Valiant Partners, 360 ONE, Prashant Jain-led 3P Investment Managers, White Oak Capital, Sanshi Fund-I and Turnaround Opportunities Fund, among others.
Commenting on the successful fundraiser, Ketan Zota, Chairman of Zota Health Care Limited, said the continued support from institutional investors reflected confidence in the company’s long-term strategy and business model.
