GPT Infra makes gains by launching QIP; floor price at Rs 183.83/share | Capital Markets News
GPT Infraprojects gained 3.21% to Rs 189.70 after the company said its board has approved opening of qualified institutional placement (QIP) of equity shares at a floor price of Rs 183.83 per share.
The Board of Directors of the Company approved and announced the opening of the issue on Monday, August 26, 2024.
The floor price of Rs 183.83 is almost the same as the previous day’s closing price of Rs 183.80 on the BSE.
The company announced that it could grant a discount of up to 5% on the minimum price calculated in this way for the issue.
GPT Infraprojects is the flagship company of GPT Group and a leading infrastructure company based in Kolkata. The company operates two business segments: Infrastructure and Sleepers. The company is involved in executing construction and infrastructure projects, particularly major bridges and level crossings. In the sleeper segment, the company manufactures and supplies concrete sleepers for railways in India and Africa.
The Company’s consolidated net profit increased by 26.8% to Rs 16.79 crore on revenue from operations increased by 2.5% to Rs 241.73 crore in Q1FY2025 over Q1FY2024.
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First published: 27 August 2024 | 10:00 am IS
