Transformers and Rectifiers (India) went up 5% at Rs 769.15 after its board allowed the launch of a qualified institutional placement (QIP) of equity shares at a floor price of Rs 699.95 per share.
The company’s board of directors authorized and declared the issue open on Monday, June 10, 2024. The floor price of Rs 699.95 is at a discount of 4.45% to the previous day’s closing price of Rs 732.55 on the BSE.
The business may give a discount of not more than five per cent on the floor price so calculated for the issue.
Transformers & Rectifiers (India) produces transformers for global and domestic markets.
In Q4 FY24, the company recorded a consolidated net profit of Rs 41.62 crore, which is much larger than Q4 FY23’s Rs 9.6 crore. In Q4 FY24, revenue from operations climbed by 16.96% to Rs 512.7 crore.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.