Jupiter Wagons completes ₹403 crore fund raise via QIP; Five funds get half of the QIP shares

Jupiter Wagons Ltd. has accomplished its fund elevating train after it raised ₹403 crore by way of a Certified Institutional Placement (QIP) train.

The QIP committee of Jupiter Wagons authorized the difficulty of 1.28 crore fairness shares at a problem worth of ₹315 per share, which is a reduction of 5% to the QIP ground worth of ₹331.84.

When in comparison with Monday’s closing worth, the difficulty worth is at a 7.3% low cost.

Out of the 1.28 crore shares authorized for allotment, almost half or 48% of these have been issued to 5 funds, which incorporates Societe Generale and HSBC.

Jupiter Wagons is concerned within the manufacturing of wagons, high-speed brake techniques, and railway and engineering tools.

For the September quarter, Jupiter Wagons reported a 111% development in general income to ₹879.3 crore, whereas internet revenue greater than tripled to ₹82 crore from ₹24 crore final yr. EBITDA margin additionally expanded by 180 foundation factors to 13.7% from 11.9%.

As of the primary half of monetary yr 2024, the corporate had internet debt price ₹374 crore.

Shares of Jupiter Wagons have moved in tandem with most of its railway-linked friends this yr. The inventory has gained 250% thus far and hit a 52-week excessive throughout Monday’s buying and selling session.

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