Shares of Centum Electronics Ltd surged over 6% to ₹1,280.25 on March 11 after the company announced the opening of its Qualified Institutions Placement (QIP) of equity shares. The board-approved QIP issue has a floor price of ₹1,219.65 per share, as per SEBI regulations.
The company initiated the QIP on March 10, 2025, with the option to offer a discount of up to 5% on the floor price, depending on final determinations in consultation with the book running lead manager. The relevant date for the QIP issue is March 10, 2025, aligning with SEBI norms.
According to Centum Electronics, the funds raised will be utilized for expansion, working capital, and general corporate purposes. The preliminary placement document has been filed with BSE and NSE, ensuring compliance with regulatory requirements.
Following the announcement, investor sentiment turned positive, driving the stock’s 6.26% surge. Analysts expect the fundraise to enhance liquidity and support the company’s long-term growth plans.
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