Gujarat Toolroom shares hit upper circuit limit after successful Rs 50 crore QIP
timesnownews.com — October 13, 2024, 11:00 AM UTC
Gujarat Toolroom Ltd. shares hit the 5% upper circuit limit of Rs 13.05 on October 11, following a successful Rs 50 crore Qualified Institutional Placement (QIP) at Rs 11.50 per share. The QIP involved the issuance of 43.48 million equity shares, attracting significant investments from institutional investors like Zeta Global Funds and Eminence Global Fund. The raised funds will support the company's initiatives in clean energy, mining, and business expansion. The shares have shown a return of 5.41% over the past month.