In a significant development, GPT Infraprojects, a leading infrastructure player, has launched a Qualified Institutional Placement (QIP) to raise capital, sending its stock price soaring by 5% in early trade on Tuesday. The company’s shares opened at ₹186.85 on the BSE, 1.7% higher than the previous close of ₹183.80, and further rose to ₹192.95, indicating strong investor interest.
This move is the latest in a series of events that have propelled GPT Infraprojects into the multibagger club, with its stock price surging almost 370% in the last year and a staggering 2000% in five years. The company’s commitment to rewarding shareholders was evident in its recent bonus issue, completed during the April-June quarter, where it issued one equity share for every equity share held by shareholders.
GPT Infraprojects’ Q1 FY ’25 results also showcased a 12.2% rise in standalone net profit, driven by lower interest costs and a 6% increase in standalone EBITDA year on year. While revenue growth was muted at 2% due to project execution challenges during the Lok Sabha Election 2024, the company’s long-term prospects remain intact.
The QIP launch, with a floor price set at ₹183.83 per share and a potential discount of up to 5%, is expected to provide the necessary funds for GPT Infraprojects to drive its growth plans forward. As the company continues to execute its strategy, investors are likely to remain bullish on this multibagger stock.
