Swelect Energy Systems’ stock saw a 5% increase following a significant fundraising move by the company. On December 18, 2024, the company’s board approved the issuance of up to 1,385 Secured, Unlisted, Rated, Redeemable, Non-Cumulative, Taxable, Non-Convertible Debentures (NCDs), each with a face value of Rs 10,00,000, aggregating to Rs 138.5 crore. The NCDs will be issued on a private placement basis in one or more tranches.
This strategic move aims to bolster the company’s financial standing, signaling growth potential for investors. Swelect Energy Systems continues to strengthen its position in the renewable energy sector, with the fundraising expected to support its expansion plans and projects.
Swelect Energy Systems shares opened at ₹1,065.10, reaching a high of ₹1,149.80 and a low of ₹1,050.00 during trading. The stock has seen a 52-week high of ₹1,492.75 and a 52-week low of ₹483.70.
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