KEI Industries’ shares were trading 6.70% higher at ₹4,344, reflecting positive investor sentiment around the QIP issue and the company’s growth prospects.
KEI Industries Limited announced that its board has approved the opening of a qualified institutional placement (QIP) of equity shares at a floor price of ₹3,880.54 per share, representing a 3.50% discount to the previous day’s closing price of ₹4,021.50 on the BSE.
Key Highlights:
- QIP Opening: The board approved and declared the opening of the QIP issue on Monday, November 25, 2024.
- Discount Option: KEI Industries may offer a discount of up to 5% on the calculated floor price.
- Business Operations: The company specializes in manufacturing low-tension, high-tension, and extra-high voltage cables, control and instrumentation cables, house wires, stainless steel wires, and specialty cables.
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 conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
