Multibagger Inventory: Robust return of 850% in three years, firm raised Rs 96 crore from QIP – INA NEWS

Multibagger Inventory: Gujarat Toolroom’s shares hit higher circuit of 5 per cent final Friday. This inventory closed at Rs 14.88 on BSE. In reality, the corporate has just lately raised Rs 95.66 crore from Certified Institutional Placement (QIP). That is the second such announcement made by the corporate in a span of two months. Earlier in October additionally, the corporate had accomplished QIP of Rs 50 crore at a problem worth of Rs 11.50 per share. The market cap of the corporate is Rs 345.31 crore. The inventory’s 52-week excessive is Rs 45.97 and 52-week low is Rs 10.75.

Firm raised Rs 96 crore from QIP

Gujarat Toolroom’s latest QIP raised ₹95.66 crore, during which stake was allotted to institutional buyers similar to Bridge India Fund, Eminence World Fund and Multitude Progress Funds Ltd. The difficulty worth for QIP was Rs 13.30 per share (together with premium of Rs 12.30 per share), the corporate stated in an change submitting.

firm monetary

Speaking about monetary efficiency, from a modest income of ₹2 crore in March 2023, it grew to ₹555 crore by March 2024. An identical enhance was seen within the firm’s earnings, which elevated from ₹2 crore to ₹76 crore in the identical interval. Moreover, the corporate’s internet revenue reached ₹73 crore in March 2024, in comparison with solely ₹1 crore within the earlier yr.

How has the shares been performing?

In January 2022, the worth of 1 share of the corporate was solely Rs 1.56, however at the moment it has elevated to Rs 14.88. Which means that buyers have gotten a return of 850 % in a interval of about three years.

Gujarat Toolroom primarily based in Ahmedabad offers in manufacturing and assembling of business machines and gear. The corporate began its enterprise within the yr 1991. The corporate is within the enterprise of growth and operation of mines, minerals and different associated actions. At the moment it’s offering mining providers and its administration is engaged on different enterprise alternatives.

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