Stock market today: Multibagger GPT Infraprojects share price rose 5% in opening trading on Tuesday. GPT Infraprojects share price, which was ₹186.85 on the BSE almost 1.7% higher than the previous closing price of ₹183.80, however, continued to rise to ₹192.95, which corresponds to a gain of over 5%.

GPT Infraprojects’ share price has risen by nearly 370% in one year and more than 2000% in five years, delivering multibagger returns to investors.

GPT Infraprojects announced the launch of a QIP (Qualified Institutional Placement), a capital raising strategy where the minimum price is set at ₹183.83 per share. GPT Infraprojects can grant a discount of up to 5% on the minimum price.

On 26 August, the Board of Directors approved the placement of ordinary shares with a nominal value of ₹ 10 each from GPT Infraprojects Limited.

Kolkata-based infrastructure company GPT Infraprojects in its stock exchange filing said that the board of directors of the company has approved the issue of such number of equity shares to eligible institutional buyers through a placement to qualified institutions under Chapter VI of the Securities and Exchange Board of India (Capital Issue and Disclosure Requirements) Regulations, 2018.

The Company further stated that it may, at its sole discretion, offer a discount of not more than 5% (five percent) on the minimum price for the QIP so calculated, in accordance with Regulation 176(1) of the SEBI ICDR Regulations.