Jupiter Wagons shines on raising Rs 125 crore through QIP
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Jupiter Wagons is currently trading at Rs. 117.65, up by 1.75 points or 1.51% from its previous closing of Rs. 115.90 on the BSE.
The scrip opened at Rs. 116.25 and has touched a high and low of Rs. 120.05 and Rs. 116.25 respectively. So far 47857 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 127.80 on 01-Feb-2023 and a 52 week low of Rs. 45.10 on 21-Jun-2022.
Last one week high and low of the scrip stood at Rs. 121.15 and Rs. 107.95 respectively. The current market cap of the company is Rs. 4490.52 crore.
The promoters holding in the company stood at 74.62%, while Institutions and Non-Institutions held 1.50% and 23.88% respectively.
Jupiter Wagons (JWL) has successfully concluded the fundraising exercise through Qualified Institutional Placement (QIP) for Rs 125 crore. The QIP got an overwhelming response from investors like Tata Mutual Fund, Ananta Capital, ITI Mutual Fund, etc.
The funds raised through QIP will be utilized to accelerate Jupiter Wagons’ growth and continue its journey as one of the fastest-growing companies in the mobility solution space with enhanced manufacturing capabilities. JWL aims to use the fund for the acquisition of Stone India, working capital optimisation, and other corporate purposes.
Jupiter Wagons is a leading company providing complete mobility solutions with a rich legacy of over four decades.
