The shares of this leading construction company gained up to 3 percent after the company announced the successful completion of its fundraising of Rs 200 crores through a Qualified Institutional Placement (QIP).
With a market capitalization of Rs 2,106.66 crore, the shares of Capacite Infraprojects Ltd were trading at Rs 286.40 per share, increasing around 0.69 percent as compared to the previous closing price of Rs 284.45 apiece.
According to the company filing, at its meeting, Capacite Infraprojects Ltd’s QIP Committee approved the issuance of 79,47,546 equity shares with a face value of Rs 10 each to 24 Qualified Institutional Buyers (QIBs) at an issue price of Rs 251.65 per equity share (including a premium of Rs 241.65 per equity share), totaling approximately Rs 200 crore.
Furthermore, the firm experienced more than fourfold oversubscriptions and received interest from a diverse range of investors. Several notable institutional investors, including Quant Mutual Fund, Singularity Equity Fund, and ITI MF, will get a major percentage of the equity shares in this issue.
Furthermore, this QIP will be used to cover working capital requirements and other general corporate purposes of the Company. The QIP was part of Capacit’e Infra’s overall financial plan to position the company for improved operational capabilities and long-term market success.
Ace investor Mukul Mahavir Agrawal holds 60,00,000 shares, i.e. equivalent to 7.83 percent of the company as of December quarter 2023.
The Company’s revenue declined by 2 percent year on year from 431 crores Q2FY23 to 422 crores Q2FY24, During the same time frame, net profit rose by 9 percent from 22 crores to 20 crores.
The company’s order book as of March 31, 2023, is Rs 9,513 Cr. The Company has taken various initiatives to maintain its leadership and improve market share and financial performance.
Capacite Infraprojects Limited principally operates in the EPC sector, offering turnkey solutions for housing, high rises, super high rises, specialty buildings, and urban infrastructure.
Written by:- Abhishek Singh
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