Jupiter Wagons rises on getting nod to raise Rs 700 crore via QIP
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Jupiter Wagons is currently trading at Rs. 380.00, up by 0.85 points or 0.22% from its previous closing of Rs. 379.15 on the BSE.
The scrip opened at Rs. 387.45 and has touched a high and low of Rs. 398.10 and Rs. 360.20 respectively. So far 545793 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 398.10 on 05-Sep-2023 and a 52 week low of Rs. 66.90 on 27-Sep-2022.
Last one week high and low of the scrip stood at Rs. 398.10 and Rs. 312.00 respectively. The current market cap of the company is Rs. 15008.73 crore.
The promoters holding in the company stood at 72.36%, while Institutions and Non-Institutions held 2.53% and 25.11% respectively.
Jupiter Wagons has received approval for raising of funds, aggregating up to Rs 700 crore through Qualified Institutions Placement (QIP) in terms of Chapter VI of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the 'ICDR Regulations') and/or any other permissible mode(s), in accordance with the ICDR Regulations and other applicable regulations, through public and/or private offerings of equity shares and/or any other convertible securities, in one or more tranches and/or one or more issuances simultaneously, subject to necessary approvals including the approval of the members of the Company and such other regulatory/ statutory approvals as may be required. The Board of Directors of the Company, at its meeting held on September 5, 2023 has, inter alia, approved the same.
Jupiter Wagons is a leading company providing complete mobility solutions with a rich legacy of over four decades.
