Goodluck India gains on planning to expand defence & aerospace play through subsidiary
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Goodluck India is currently trading at Rs. 626.50, up by 2.80 points or 0.45% from its previous closing of Rs. 623.70 on the BSE.
The scrip opened at Rs. 623.00 and has touched a high and low of Rs. 635.00 and Rs. 613.20 respectively. So far 42053 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 635.00 on 04-Oct-2023 and a 52 week low of Rs. 355.55 on 10-Jan-2023.
Last one week high and low of the scrip stood at Rs. 635.00 and Rs. 591.10 respectively. The current market cap of the company is Rs. 1682.80 crore.
The promoters holding in the company stood at 58.73%, while Institutions and Non-Institutions held 0.05% and 41.22% respectively.
Goodluck India has planned to capitalize upon the ever-growing opportunities in the Defence and Aerospace sectors, through its wholly owned subsidiary - Goodluck Defence and Aerospace. Besides, the company also plans to issue up to 5,00,000 warrants, on a preferential basis to the promoter category, at an exercise price of Rs 600 per underlying equity share of the face value of Rs 2 each (including a premium of Rs 598 per equity share) or such higher issue price as may be determined as per the SEBI regulations.
The company will also issue up to 11,00,000 equity shares, on a preferential basis to the non-promoter category, at an exercise price of Rs 600 per equity share of the face value of Rs 2 each (including a premium of Rs 598 per equity share) or such higher, as may be determined as per the SEBI Regulations. The total funds being proposed to be raised through the preferential route is around Rs 96 crore.
Goodluck Defence and Aerospace is a private limited company incorporated on August 31, 2023. The company’s main object is to carry out the business of forging, machining, treatment and coating of steel, stainless and special steel, alloys or any other metal by open forging, die forging, robotic forging or any other method. The company has not started its business yet. The part proceeds to the tune of Rs 40 crore from the proposed Preferential Issue of the parent company will be used as an investment in this subsidiary.
Goodluck India is certified manufacturer and exporter of a precision engineered range of Cold Drawn Welded Tubes & Precision Tubes.
