PG Electroplast, a diversified plastic moulding and design company, saw its shares rise by 3% on December 5, following the announcement of a Qualified Institutional Placement (QIP) to raise up to ₹1,500 crore. The company has set a floor price of ₹705.18 per share for the QIP. CNBC-TV18 reported the indicative issue price could range between ₹690-₹699 per share. The move, which involves a 6.7% equity dilution, aims to support working capital requirements, loan repayments, and other corporate purposes.
The QIP was approved by the board on October 19, 2024, with shareholder consent secured on November 13 through a special resolution. During a recent earnings call, PG Electroplast’s management highlighted significant growth opportunities on the horizon and emphasized the use of funds for capital expenditures and working capital expansion. They also clarified no plans for inorganic growth routes.
Stock Details
- Current Share Price: ₹705 (+3.16%)
- Market Capitalization: ₹198.72 billion
- Price to Earnings Ratio (TTM): 104.50
- Dividend Yield: 0.03%
- Net Income (FY): ₹1.35 billion
- Revenue (FY): ₹27.27 billion
- Basic EPS (TTM): ₹7.40
- Beta (1Y): 1.58
- Shares Float: 112.33 million
Stock Performance
- 1 Day: +3.16%
- 5 Days: +14.06%
- 1 Month: +28.38%
- 6 Months: +208.06%
- Year to Date: +235.88%
- 1 Year: +242.55%
- 5 Years: +22.58K%
- All-Time: +3.61K%
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