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Centum Electronics shares jumped 7.5 per cent on BSE, logging an intraday high at Rs 1,292 per share. The stock gained after the company launched its qualified institutional placement (QIP) at a floor price of Rs 1,219.65 per share.
Around 10:23 AM, Centum Electronics share price was up 6.4 per cent at Rs 1,277.55 per share on BSE. In comparison, the BSE Sensex was up 0.30 per cent at 73,893.24. The market capitalisation of the company stood at Rs 1,647.63 crore. The 52-week high of the stock was at Rs 2,400 per share and the 52-week low was at Rs 1,140.15 per share.
"We further wish to inform you that the ‘Relevant Date’ for the purpose of the Issue, in terms of Regulation 171(b) of the SEBI ICDR Regulations, is March 10, 2025, and accordingly the floor price in respect of the aforesaid Issue, based on the pricing formula as prescribed under Regulation 176(1) of the Sebi ICDR Regulations is Rs 1,219.65 per Equity Share," filing read. ALSO READ: Here's why Indoco Remedies shares were under pressure on March 11; details
QIP is a capital-raising tool used by companies to raise funds by issuing shares to institutional investors. Companies can use the funds raised through QIPs to reduce existing debt, improving their financial health and lowering interest costs. A QIP can help companies improve their equity base by raising capital without incurring debt, enhancing their financial stability.
Centum Electronics specialises in providing advanced electronics solutions for various industries. It is known for designing and manufacturing high-tech products in areas like aerospace, defense, industrial electronics, telecommunications, and more. The company focuses on precision engineering, embedded systems, and electronic manufacturing services (EMS).
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The company is known for its precision engineering and embedded systems, delivering mission-critical applications for industries like defense, avionics, and space. Centum also plays a significant role in industrial automation, power control systems, and telecom infrastructure. With a strong focus on research and development, the company has established a global presence, serving clients in both domestic and international markets.
In the past one year, Centum Electronics shares have lost 27 per cent against Sensex's rise of 0.8 per cent.
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