Axiscades Technologies witnessed an 8 percent surge in its shares on January 11 following the initiation of a qualified institutional placement (QIP) aimed at raising up to Rs 500 crore.
The board of the engineering and technology solutions firm established a floor price for the issue at Rs 696.70, representing a 9.9 percent discount from its previous close on the National Stock Exchange (NSE). Approved in November, the fundraising allows for a potential discount of up to 5 percent from the floor price.
As of 12:36 pm the shares were trading 7.17% higher at ₹829.00
