KEC International rises on getting nod to raise funds up to Rs 4,500 crore
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
KEC International is currently trading at Rs. 895.05, up by 15.00 points or 1.70% from its previous closing of Rs. 880.05 on the BSE.
The scrip opened at Rs. 882.05 and has touched a high and low of Rs. 905.70 and Rs. 882.05 respectively. So far 6169 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 968.20 on 03-Jul-2024 and a 52 week low of Rs. 551.00 on 08-Nov-2023.
Last one week high and low of the scrip stood at Rs. 905.70 and Rs. 827.50 respectively. The current market cap of the company is Rs. 22625.06 crore.
The promoters holding in the company stood at 51.88%, while Institutions and Non-Institutions held 37.96% and 10.17% respectively.
KEC International’s board has approved raising of funds through one or more qualified institutions placement(s) and/or any other method as may be permitted under applicable laws or any combination thereof, for an aggregate amount of up to Rs 4,500 crore, by way of issue of equity shares and/or any other equity-based instruments (including fully or partly convertible debentures) and/or any combination thereof, in one or more tranches, subject to the approval of shareholders’ and/or other requisite regulatory/statutory approvals, as may be required in terms of applicable laws. The Board of Directors of the company at its meeting held on July 26, 2024, inter alia has approved the same.
KEC International is a global infrastructure EPC major. It has presence in power transmission and distribution, cables, railways, water, renewables and civil.
