Updated on August 29, 2024 at 13:17 IST

PTC Industries sets minimum price for QIP (Image: Shutterstock/ET NOW)

PTC Industries QIPs: PTC Industries, backed by top investor Mukul Agrawal, has announced a Rs 700 crore fundraising scheme through Qualified Institutions Placement (QIP). The company has also set the reserve price for its QIP.

The floor price for QIP has been fixed at Rs 13,894.42 per share. The company may, at its discretion, give a discount of not more than 5 percent on the floor price for QIP so calculated, a regulatory filing said.

QIP is a method that enables listed companies to raise capital quickly by issuing shares or convertible bonds to a select group of institutional investors such as mutual funds, venture capital funds, insurance companies and foreign institutional investors.

PTC Industries share price

Meanwhile, shares of PTC Industries were trading at Rs 14,200 on the BSE at around 1 pm, down 4 percent.

PTC Industries, a constituent of the BSE SmallCap index, is a manufacturer of aerospace castings, industrial castings, titanium and vacuum melt alloy castings.

Mukul Agrawal Portfolio shares

The company is backed by top investor Mukul Agrawal. According to Trendlyne statistics, Mukul Agrawal owns 1,670,000 equity shares of the company. This represents a 1.2 percent stake in the company as of June 2024 quarter. The total value of his investment is Rs 236.3 crore.

PTC Industries share price history

According to BSE analytics, PTC Industries shares have risen by more than 75 percent in just three months and have multiplied within a year, yielding 115 percent. The stock has given an impressive return of 141 percent in one year and 520 percent in two years. The price has shot up a whopping 1,250 percent in the last three years.

According to the BSE website, PTC Industries had a market capitalization of Rs 20,506.04 crore as of August 29.