Sansera Engineering added 1.48% to Rs 1,610.20 after the company's board has approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 1,635.48 per share.
The floor price of Rs 1,635.48 is at a premium of 3.07% to the previous day's closing price of Rs 1,586.70 on the BSE.The company stated that it may offer a discount of not more than 5% on the floor price so calculated for the issue.
Sansera Engineering is primarily engaged in the machining of precision engine forged components for the automotive (2Ws and 4Ws) and non-automotive sectors (aerospace, agriculture). The company also manufactures connecting rods for medium and heavy commercial vehicles.
The company's consolidated net profit rose 10.9% to Rs 49.58 crore on a 12.7% increase in net sales to Rs 743.93 crore in Q1 FY25 over Q1 FY24.
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