From the recent concall:
It is very difficult because the QIP or number of the rate will be derived from the Stock
Exchange closing prices of the last two weeks when we will launch the QIP, so it is very
difficult to tell you the percentage dilution.
QIP price will be decided on the average price of the last two weeks. So, if the market (big investors) pushes the price downwards for QIP. Then it might be the best time to buy the company.