Transformers and Rectifiers India Ltd raises Rs. 500 crore through QIP

The Allotment Committee ("Committee") of the board of directors of Transformers and Rectifiers (India) Limited at its meeting held today, i.e., June 14, 2024, has, approved the issue and allotment of 7518796 Equity Shares to qualified institutional buyers at the issue price of ₹ 665 per Equity Share (including a premium of ₹ 664 per Equity Share), which includes a discount of ₹ 34.95 per Equity Share on the floor price amounting to ₹ 699.95 per Equity Share (i.e., 4.993% of the floor price), as determined in terms of SEBI ICDR Regulations), aggregating to ₹ 4,99,99,99,340 (Rupees Four Hundred Ninety Nine Crore Ninety Nine Lakh Ninety Nine Thousand Three Hundred and Forty only), pursuant to the Issue.

Pursuant to the allotment of Equity Shares in the Issue, the paid-up equity share capital of the Company stands increased from ₹14,25,64,121 consisting of 142564121 Equity Shares of face value of ₹1 each to ₹15,00,82,917 consisting of 150082917 Equity Shares. of face value of ₹1 each.

Shares of Transformers And Rectifiers (India) Limited was last trading in BSE at Rs. 808.20 as compared to the previous close of Rs. 806.15. The total number of shares traded during the day was 58219 in over 2173 trades.

The stock hit an intraday high of Rs. 845.70 and intraday low of 800.00. The net turnover during the day was Rs. 47851473.00.

Source : Equity Bulls

Keywords

TransformersAndRectifiersIndia INE763I01026 TRIL HeavyElectricalEquipment SharesAllotment QIBs QIP FundRaising