Simplex Infrastructures raises Rs 400 Crores through QIP Issue

Simplex Infrastructures Ltd has announced that the Board of Directors of the Company has approved allotment of 64,00,000 equity shares of Rs 2/- at Rs 625/- each amounting to Rs 400 crores to the Qualified Institutional Buyers under QIP. This new issue accounts for 13% of the expanded capital.

The current Order Book of Simplex stands at over Rs 8100 crores with significant growth in contract execution and revenues.

The stock was trading at Rs.653, up by Rs.10.30 or 1.60%. The stock hit an intraday high of Rs.660 and low of Rs.651.30.

The total traded quantity was 821 compared to 2 week average of 9190.

Source : Equity Bulls

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