The share price of Jupiter Wagons, a mobility solutions provider plunged over 3% as the company on Monday July 8, 2024 announced that its Fund Raising Committee has approved the launch of a qualified institutional placement (QIP), setting the floor price at Rs 689.47 per equity share. The share price of Jupiter Wagons traded down over 3% to intra-day low of Rs 694.35 on NSE.
In a regulatory filing with BSE Ltd and the National Stock Exchange of India Ltd, the company stated, “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 Rs 689.47 per equity share.”
Also Read
RVNL, IRFC, RailTel and other railway stocks surge upto 16% ahead of Budget- Find out why?
The decision was made during a committee meeting held on the same day, July 8, 2024. Under SEBI regulations, Jupiter Wagons may offer a discount of up to 5% on the floor price for the QIP.
BrandWagon Explainer: What is cross channel automation? Mutual Fund Calculator: Start Rs 1000 SIP at age 20 and retire with Rs 3 crore corpus – Here’s how Ola Electric shares jump over 16% after flat listing Zomato zooms 16% after multi-fold jump in profit; brokerages give a thumbs up
Jupiter Wagons Q4FY24 Numbers
Jupiter Wagons announced a net profit of Rs 40.78 crore for the January-March period of FY22–23, according to a statement released by the company. The company’s total income for the quarter increased to Rs 1,121.34 crore from Rs 712.71 crore in the corresponding period last year.
Stocks Performance in last one year
In terms of stock performance, Jupiter Wagons shares have demonstrated positive returns across multiple time frames. Over the past month, the stock has given a commendable 14.06% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with a substantial increase of 106.50%, indicating a strong upward trend.
Also Read
Sebi fast-tracks IPO approvals
Year-to-date, Jupiter Wagons shares have surged by 121.62%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 310.75% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.
What is QIP based Fundraising?
Qualified Institutional Placement (QIP) serves as a primary method for listed companies to raise funds. Introduced by SEBI, this mechanism allows companies to issue securities to qualified institutional buyers (QIBs).
Historically, Indian companies faced hurdles in raising funds domestically, leading them to seek financing from international markets. To alleviate this issue, SEBI established the QIP framework, simplifying capital-raising processes within the domestic market.
(Disclaimer: Views, recommendations, and opinions expressed are personal and do not reflect the official position or policy of Financial Express.com. Readers are advised to consult qualified financial advisors before making any investment decisions. Reproducing this content without permission is prohibited.)
Related Posts
In Q2, Avenue Supermarts or D-Mart reported Ebitda figures that fell below both our and consensus estimates, primarily due to lower gross margins and increased staff costs. The general merchandise and apparel mix remained subdued, which contributed to the downward pressure on gross margins. There are concerns about whether this mix deterioration is a cyclical issue or a more structural problem,…
Read moreThe rupee depreciated 9 paise to close at an all-time low of 83.33 (provisional) against the US dollar on Wednesday, tracking a strong greenback against major rivals overseas and unabated foreign capital outflows.
Besides, a negative trend in domestic equities and elevated crude oil prices amid geopolitical uncertainty in the Middle East weighed on investor sentiments, according to …
Read moreBy Gaurang Somaiy
Rupee fell to fresh all-time lows after consolidating in a narrow range for the last few months as the dollar index rebounded from its recent lows and is now headed to test level of 105. Also, the Chinese Yuan fell to the lowest level in three-months following expectation that the PBoC could announce more stimulus measures to stimulate the econom…
Read moreThe Securities and Exchange Board of India (Sebi) is nudging custodians to ensure that foreign portfolio investors (FPIs) can access their funds on the day of the settlement by October, on par with the rest of the investors in the market. “From October 2024, we expect custodians to make available funds to FPIs on the day of the settlement itself,” said Ananth Narayan, Sebi’s whole time me…
Read moreAlmost three months after the official release of the Steam Deck, Valve has announced that the audio drivers are now available for Windows 10 and Windows 11 on Steam Deck.
A new Steam Support forum post contains the details, as well as the links for the driver files, which are now available for owners of the portable device to access. The update also gives users the ab…
Read moreGTA Online’s latest update starts a new storyline called Los Santos Drug Wars, which launches players into the world of producing and delivering psychedelics.
Players will team up with a wacky crew of drug runners and chemists called the Fooliganz. Players will take on The Last MC, among other enemies, and establish their dominance in Los Santos’ drug trade. Lead by goofy repeat criminal …
Read moreAt the start of August, 18 months after its collapse, the Crystal Cruises line was brought back to life with the much-anticipated debut of its first pair of renovated ships.
Parent company A&K Travel Group, which acquired Crystal Serenity and Crystal Symphony along with a few assets in 2022 Read more
Everygame Poker offers a fine selection of slots and an abundance of bonus features and Free Spins from December 19 to December 26, 2023 to bring an unforgettable festive experience to players. Also, the Christmas Lucky Picks include additional gifts to players, such as free poker tournament tickets and the deposit-free Gold Chips to invite players to join the seasonal celebrations at the earliest…
Read moreThe value of individual shares in American iGaming specialist PlayAGS Incorporated reportedly fell by almost 10% overnight after the company revealed that it had ended talks about its proposed $370 million purchase by larger rival Inspired Entertainment Incorporated.
According to a Thursday report from the Seeking Alpha financial news service, single share…
Read moreOsage River Gaming and Convention (ORGC) has joined forces with Bally’s Corporation for a new casino project at Lake of the Ozarks, Missouri’s premier lake resort destination. The former company is currently working hard on getting its Osage River casino project approved.
The involvement of Bally’s in the project wa…
Read more