Jyoti Strucutures gains on raising Rs 100cr via QIP

The company has raised Rs 100 crore through issue of equity shares to qualified institutional buyers

Shares of Jyoti Structures were up nearly 2% at Rs 41.20 after the company said it has raised Rs 100 crore through issue of equity shares to qualified institutional buyers (QIB).

The Committee of Board of Directors has allocated 2,33,87,019 equity shares at an issue price of Rs 42.85 per equity share i.e. at a premium of Rs 40.85 per equity share, aggregating Rs 100.21 crore to eligible QIBs, the company said in a release.

Over 300,000 shares were traded on both the stock exchanges so far.