Bondada Engg hits the roof as board to mull fund raising

Bondada Engineering was locked in an upper circuit of 5% at Rs 1,795.10 after it announced that its board is scheduled to meet on 5 June, 2024 to consider raising funds via private placement basis.

The company may issue equity shares or any other equity-linked or convertible securities through all or any permissible modes or method, including private placement, preferential issue or such other modes as may be permitted under applicable law, subject to all such regulatory/statutory approvals.

Bondada Engineering is a infrastructure company that provides engineering, procurement, and construction (EPC) services, as well as operations and maintenance (O&M) services to customers in the telecom and solar energy industries throughout India.

The company reported a consolidated net profit of Rs 46.30 crore, steeply higher than Rs 17.13 crore in Q4 FY24 over Q4 FY23. Revenue from operations soared 116.07% to Rs 800.72 crore in Q4 FY24 as compared to Rs 370.58 crore in Q4 FY23.

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