 "Texmaco Rail gains after allotment of shares via QIP")
Shares of Texmaco Rail and Engineering is trading higher by 3% to Rs 123 on BSE after the company said it has raised Rs 300 crore by issuing shares of qualified institutional buyers (QIB).
“The company has allotted 28.04 million equity shares of Re 1 each at a price of Rs 107 per equity share including premium of Rs 106 per share, aggregating approximately Rs 300 crore to QIBs,” Texmaco Rail said in a statement.
The stock opened at Rs 122 and touched high of Rs 125 on BSE. A combined 565,551 shares changed hands on the counter in early morning deals on BSE and NSE.
“The company has allotted 28.04 million equity shares of Re 1 each at a price of Rs 107 per equity share including premium of Rs 106 per share, aggregating approximately Rs 300 crore to QIBs,” Texmaco Rail said in a statement.
The stock opened at Rs 122 and touched high of Rs 125 on BSE. A combined 565,551 shares changed hands on the counter in early morning deals on BSE and NSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%