Torrent Power shares surged over 5% to ₹1,667.30 in early trading today after the company announced the opening of its Qualified Institutional Placement (QIP) issue. The company has set a floor price of ₹1,555.75 per equity share for the QIP based on SEBI regulations, with an option to offer a discount of up to 5%.
Torrent Power’s QIP issue, approved by its Board of Directors, is intended to strengthen its financial position and support its growth initiatives. The company has filed the Preliminary Placement Document with the BSE and NSE to comply with regulatory requirements.
The company has not disclosed the number of shares to be issued or the total size of the issue. However, according to a PTI report, the issue size is speculated to be between ₹3,500 crore and ₹5,000 crore. Torrent Power, in a stock exchange filing, stated that the fundraising committee of the board approved the authorization for opening the issue during its meeting on December 2.
As of 10:06 IST, the stock was trading up by 5.11% at ₹1,667.30.
Torrent Power Share Price history
| Day | Open | Close | Change % |
|---|---|---|---|
|
Mon, Dec 2 2024
|
₹1,510.70
|
₹1,586.30
|
|
|
Fri, Nov 29 2024
|
₹1,510.00
|
₹1,510.70
|
|
|
Thu, Nov 28 2024
|
₹1,539.70
|
₹1,508.10
|
-1.61%
|
|
Wed, Nov 27 2024
|
₹1,560.50
|
₹1,532.75
|
-1.44%
|
|
Tue, Nov 26 2024
|
₹1,612.00
|
₹1,555.20
|
-3.67%
|
|
Mon, Nov 25 2024
|
₹1,540.00
|
₹1,614.40
|
|
|
Fri, Nov 22 2024
|
₹1,570.50
|
₹1,517.40
|
-4.10%
|
|
Thu, Nov 21 2024
|
₹1,582.00
|
₹1,582.35
|
-0.00%
|
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduc