Ramkrishna Forgings rises on approving fund raise of Rs 94.3 crore via preferential issue
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Ramkrishna Forgings is currently trading at Rs. 207.55, up by 0.20 points or 0.10% from its previous closing of Rs. 207.35 on the BSE.
The scrip opened at Rs. 207.40 and has touched a high and low of Rs. 208.95 and Rs. 205.90 respectively. So far 44545 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 251.92 on 11-Oct-2021 and a 52 week low of Rs. 145.50 on 21-Jun-2022.
Last one week high and low of the scrip stood at Rs. 210.95 and Rs. 194.90 respectively. The current market cap of the company is Rs. 3311.24 crore.
The promoters holding in the company stood at 46.23%, while Institutions and Non-Institutions held 18.49% and 35.28% respectively.
Ramkrishna Forgings has approved a fund raise of Rs 94.3 crore through a preferential issue of 46 lakh warrants convertible into equivalent equity share of Rs 2 each at a price of Rs 205 per warrant to Promoters/ Non Promoters.
Upon allotment of these warrants, the company will receive Rs 23.60 crore during the year and balance Rs 70.70 crore will be received within the next 18 months from the date of allotment of warrants.
Ramkrishna Forgings is engaged in the manufacture of Screw Couplings, Draw Gear Assembly, Snubber Assembly, Hanger, Block Hanger Side Frame Key and various other forgings items of Railway Coaches and Wagon.
