Anant Raj stock dips 4% after Rs 1,100 crore QIP at 5% discount; data centre expansion in focus

Shares of Anant Raj Ltd fell 3.8 percent to Rs 659.35 on Tuesday after the listed real estate developer raised Rs 1,100 crore through a qualified institutional placement (QIP) to fund expansion and development projects, particularly in its rapidly growing data centre and cloud infrastructure business.

The company set the floor price at Rs 695.83 per share and issued shares at Rs 662.00 per share, representing a 4.86 percent discount to the floor price. According to its filing with the stock exchanges, 1.66 crore equity shares were allotted to eligible institutional investors. Following the allotment, Anant Raj’s paid-up equity share capital increased from Rs 68.65 crore (34.32 crore shares) to Rs 71.97 crore (35.98 crore shares).

Major institutional investors lead the issue

The QIP, which was launched on October 7, drew strong participation from marquee global and domestic institutions. The top five investors together accounted for more than half of the total allotment:

• Societe Generale - ODI: 19.5 percent of the total QIP size
• BNP Paribas Financial Markets - ODI: 11.7 percent
• Morgan Stanley Asia (Singapore) Pte.: 10.4 percent
• Jupiter India Fund: 7.38 percent
• Kotak Mahindra Life Insurance: 6.81 percent

Focus on scaling data centre vertical

Anant Raj has said it is working to accelerate its data centre and cloud infrastructure expansion, a segment it expects to be a major growth driver over the next several years. The company has set an ambitious target of achieving USD 1 billion in revenue by FY32 from this vertical, aided by the rising demand for data processing and storage infrastructure across India.

The firm is also expanding its IT load capacity across key strategic locations to meet anticipated demand from hyperscalers and enterprise clients.

Stock performance

Despite the long-term growth narrative, the stock has come under pressure in the near term, falling 7.4 percent over the past five sessions and 23 percent year-to-date. Over the last 52 weeks, Anant Raj shares have traded between Rs 376.15 and Rs 947.90. The stock currently trades at a price-to-earnings ratio of 49 and offers a dividend yield of 0.11 percent.

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