Blue Star gains on investing Rs 49 crore in Blue Star Climatech
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Blue Star is currently trading at Rs. 894.35, up by 7.10 points or 0.80% from its previous closing of Rs. 887.25 on the BSE.
The scrip opened at Rs. 909.85 and has touched a high and low of Rs. 909.85 and Rs. 885.70 respectively. So far 2946 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 950.00 on 25-Sep-2023 and a 52 week low of Rs. 527.00 on 28-Sep-2022.
Last one week high and low of the scrip stood at Rs. 950.00 and Rs. 880.40 respectively. The current market cap of the company is Rs. 18413.83 crore.
The promoters holding in the company stood at 38.91%, while Institutions and Non-Institutions held 35.56% and 25.53% respectively.
Blue Star has invested aggregating to Rs 49 crore in Blue Star Climatech (BSCL), the wholly owned subsidiary of the Company by acquiring 4,90,00,000 equity shares of Rs 10 each at par by way of subscribing to the rights issue of Blue Star Climatech.
Upon successful completion of the qualified institutions placement (QIP) vide the Placement Document dated September 22, 2023, the Company, as a part of the objects of the said QIP, has acquired equity shares in BSCL.
Blue Star is India’s leading central air-conditioning and commercial refrigeration company fulfilling the cooling requirements and providing end-to-end solutions as a manufacturer, contractor and after-sales service provider to corporate, commercial, institutional and residential customers.
