Puravankara jumps on getting in-principle approval to raise funds up to Rs 1000 crore through QIP
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Puravankara is currently trading at Rs. 442.95, up by 7.80 points or 1.79% from its previous closing of Rs. 435.15 on the BSE.
The scrip opened at Rs. 447.80 and has touched a high and low of Rs. 447.80 and Rs. 435.00 respectively. So far 4411 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 5 has touched a 52 week high of Rs. 460.00 on 23-May-2024 and a 52 week low of Rs. 90.15 on 20-Jun-2023.
Last one week high and low of the scrip stood at Rs. 447.80 and Rs. 414.00 respectively. The current market cap of the company is Rs. 10504.55 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 17.08% and 7.92% respectively.
Puravankara has received in?principle approval to proceed to raise funds through Qualified Institutional Placement (QIP) mode up to an amount not exceeding Rs 1000 crore in one or more tranches. The Instruments to be issued under QIP may be equity shares /debentures (NCD/PCD/FCD)/preference shares as per the terms of issue, once finalized and approved by the Board.
Through this approval, the company will take required steps as and when the Company deems appropriate and such in? principle approval shall be valid for a period of One year as per SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 as amended. The Board of Directors of the Company at its meeting held on June 13, 2024, has considered and approved the same.
Puravankara is a leading real estate company in India, with a presence in Bengaluru, Kochi, Chennai, Coimbatore, Mangaluru, Hyderabad, Mysore, Mumbai and Pune.
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