GPT Infraprojects launches QIP, fixes floor price at Rs 183.8; stock up 5%

GPT Infraprojects' board approved the floor price for the QIP at Rs 183.83 per share to raise Rs 175 crore

GPT Infraprojects share price today was locked in the 5-per cent upper circuit on BSE. The buying interest came after the civil construction company launched a fundraising plan via the Qualified Institutional Placement (QIP) route.

At around 10:27 AM, shares of GPT Infraprojects were up 1.74 per cent or Rs 3.2 at Rs 187 per share. The market capitalisation of the company at around the same time stood at Rs 21,756.3 million.

GPT Infraprojects' board approved the floor price for the QIP at Rs 183.83 per share.

"We wish to inform you that the Fund Raising Committee has fixed the 'Relevant Date' for the QIP as August 26, 2024, and accordingly the floor price in respect of the QIP, based on the pricing formula, is Rs 183.83 per share," the filing read.

On July 5, the company had proposed to raise Rs 175 crore through issuance of instruments or securities including equity shares or any other eligible securities.

GPT Infraprojects Q1FY25 result

The consolidated total income of GPT Infraprojects stood at Rs 243.2 crore against Rs 240 crore in the quarter ended June, up 1.5 per cent year-on-year (Y-o-Y) on the back of the decreased execution at the various locations for general elections during the quarter.

The consolidated earnings before interest, tax, depreciation, and amortisation (EBITDA) came in at Rs 33.6 crore as against Rs 29.5 crore a year ago. The Net profit (post minority) for the quarter stood at Rs 16.8 crore in Q1 Fiscal 25 as against Rs 13.2 crore in the corresponding last fiscal year.

GPT is the flagship company of GPT Group, based out of Kolkata. GPT operates through two segments– Infrastructure and Sleeper. The company made inroads into the infrastructure segment in 2004 and is now an established Railway focused player, engaged in the execution of civil and infrastructure projects, especially large bridges and ROBs for Railways.

In the sleeper segment, the company manufactures and supplies concrete sleepers for Railways in India and Africa. Its manufacturing units are located at Panagarh (West Bengal), Ladysmith (South Africa), Tsumeb (Namibia) and Eshiem (Ghana).

GPT Infraprojects share price history
 

In the past year, shares of GPT Infraprojects have given a multi-bagger return of 348.2 per cent against the Sensex's rise of 25.9 per cent.