Jupiter Wagons share falls 3% after QIP announcement

Jupiter Wagons, a mobility solutions provider, had its share price drop by 3% after the firm announced on Monday, July 8, 2024, that its Fund Raising Committee had approved the start of a qualified institutional placement (QIP), with a floor price of Rs 689.47 per equity share. Jupiter Wagons’ share price fell 3% to an intraday low of Rs 694.35 on the NSE.

“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.” the company said in a regulatory filing with the BSE Ltd and the National Stock Exchange of India Ltd.

As of 2:21 pm, the Jupiter Wagons shares were trading 2.26% lower at ₹707.70 on the NSE.

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