Zen Technologies launches QIP with an issue size of 
800 crore
Zen Technologies Ltd., a provider of defense training solutions, launched a Qualified Institutional Placement (QIP) on August 21 with a potential issue size of 1,000 crore, according to sources aware of the subject.
The base issue addresses 5.95% of the organization’s value, possibly expanding to 7.43%, as per different individuals acquainted with the turn of events. Sources in the known about the situation told that the issue is priced at 1,601 per share, which represents a discount of 10.2% from the closing price and a discount of 5% from the floor price.
The company’s working capital requirements, inorganic growth through acquisitions and strategic initiatives, and general corporate goals will all be supported by the QIP’s proceeds. According to sources familiar with the situation, ICICI Securities and others are the issue’s book-running lead managers (BRLM). The shares will be locked in for 60 days.
Zen Technologies Limited is a market leader in providing Counter-Drone Solutions for border security, critical infrastructure protection, and other applications. It also designs, develops, and manufactures cutting-edge Combat Training Solutions for the training of Defense and Security Forces around the world.
Zen Technologies has offices in India, the United Arab Emirates, and the United States in addition to its headquarters in Hyderabad, India. Live Fire, Live Instrumented, Virtual, and Constructive training systems for individual and group training, as well as Counter Drone Solutions, are among Zen Technologies’ more than 40 indigenously developed products.
Zen Technologies is a reputable leader in the development of training systems for developing and measuring Combat Readiness. The company has shipped over 1,000 simulators and training systems worldwide.
