Under SEBI regulations, Jupiter Wagons may offer a discount of up to 5% on the floor price for the issue. Shares of Jupiter Wagons Ltd ended at ₹723.20, down by ₹6.95, or 0.95%, on the BSE.
Mobility solutions provider Jupiter Wagons Ltd on Monday (July 8) said its Fund Raising Committee has approved the launch of a qualified institutional placement (QIP), setting the floor price at ₹689.47 per equity share.
“We further wish to inform you that the Fund Raising Committee has fixed the ‘Relevant Date’ for the purpose of the Issue, as July 08, 2024, and accordingly the floor price in respect of the issue, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is ₹ 689.47/- per equity share,” according to a stock exchange filing.
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The preliminary placement document was filed with both BSE Ltd and the National Stock Exchange of India Ltd on July 8, 2024. The decision was made during the committee’s meeting held today, July 8. Under SEBI regulations, Jupiter Wagons may offer a discount of up to 5% on the floor price for the issue.
Jupiter Wagons had reported a net profit of ₹40.78 crore in the January-March period of FY22–23, the company said in a statement. The company’s total income during the quarter rose to ₹1,121.34 crore from ₹712.71 crore in the year-ago period.
Shares of Jupiter Wagons Ltd ended at ₹723.20, down by ₹6.95, or 0.95%, on the BSE.
First Published:
Jul 8, 2024 8:59 PM
IST
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