Jupiter Wagons QIP Set to Launch at Floor Price of ₹689.47 per Share

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Jupiter Wagons QIP has been initiated with a floor price of ₹689.47 per share, following a board decision. The company has reported a net profit of ₹105 crore in Q4 FY24, up from ₹39 crore YoY, marking a substantial increase. The stock surged 319% in the past year.

Jupiter Wagons QIP News Today

Jupiter Wagons Ltd. has set the floor price for its Qualified Institutional Placement (QIP) at ₹689.47 per equity share. This decision was taken during the company's board meeting on Monday, July 8, 2024. The QIP issue opened on the same day, with the company's shares closing at ₹722.60 on the NSE, down by 1.01%.

QIP Details and Regulatory Compliance

The company's Fund Raising Committee approved the launch of the QIP and set the floor price as per SEBI's pricing formula under Regulation 176(1) of the SEBI ICDR Regulations. The 'Relevant Date' for the issue was set as July 8, 2024.

Explore: Jupiter Wagons Limited Share Price

Preliminary Placement Document

The preliminary placement document was filed with both BSE and NSE on July 8, 2024. Under SEBI regulations, Jupiter Wagons may offer a discount of up to 5% on the floor price for the issue.

Financial Performance

For the quarter ending March 31, 2024, Jupiter Wagons reported a consolidated net profit of ₹105 crore. This is a significant increase compared to the ₹39 crore profit in the same quarter of the previous year. The company’s net profit in the preceding quarter stood at ₹81.5 crore.

Total consolidated revenue for Q4 FY24 was ₹1,127 crore, a notable rise from ₹712.7 crore in the corresponding quarter of the previous financial year. Revenue for the December-ended quarter was ₹900.8 crore.

Stock Returns

Jupiter Wagons' stock has demonstrated remarkable performance, delivering returns of 319% over the past 12 months. This significantly outperforms the Nifty index, which returned approximately 25% in the same period. Year-to-date, the stock has yielded a 126% return.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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