Patel Engineering gains on launching QIP at Rs 59.50 apiece
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Patel Engineering is currently trading at Rs. 63.19, up by 0.35 points or 0.56% from its previous closing of Rs. 62.84 on the BSE.
The scrip opened at Rs. 64.10 and has touched a high and low of Rs. 64.69 and Rs. 62.55 respectively. So far 427636 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 79.00 on 06-Feb-2024 and a 52 week low of Rs. 17.70 on 24-Apr-2023.
Last one week high and low of the scrip stood at Rs. 64.69 and Rs. 56.87 respectively. The current market cap of the company is Rs. 4864.51 crore.
The promoters holding in the company stood at 39.41%, while Institutions and Non-Institutions held 7.86% and 52.72% respectively.
Patel Engineering (PEL) has launched a qualified institutional placement (QIP) with a floor price of Rs 59.50 apiece. The company’s board authorised the opening of the issue on April 22. A meeting of the Allotment Committee is scheduled to be held on April 25, 2024, to, inter alia, consider and determine the issue price for the Equity Shares to be allotted to qualified institutional buyers pursuant to the issue.
Patel Engineering provides a wide range of civil engineering services involved in design and construction of power projects, hydroelectric projects, commercial building, industrial complexes, dams, tunnels, underground structures, steel and concrete structures, bridges, marine works, flyovers and national highways in India and abroad.
