Shares of Axiscades Technologies witnessed a significant jump of over 8% on January 11 following the company’s announcement of a qualified institutional placement (QIP) issue, aiming to raise up to Rs 500 crore.
The engineering and technology solutions firm’s board has established the floor price for the QIP issue at Rs 696.70, reflecting a 9.9% discount from its previous close on the National Stock Exchange (NSE). The board had approved the fundraising initiative in November, indicating a potential discount not exceeding 5% from the floor price.
As of 10:18 am, Axiscades Technologies was trading at ₹821.35 on the NSE, marking a 6.18% increase from the previous close.
