Stock Market Today: Multibagger GPT Infraprojects share price gained 5% in the opening trades on Tuesday. GPT Infraprojects share price that opened at ₹186.85 on the BSE almost 1.7% higher than previous close of ₹183.80 however gained further to ₹192.95 levels, marking gains of more than 5%.
GPT Infraprojects share price having risen almost 370% in a year and more than 2000% in 5 years has given Multibagger returns to the investors.
GPT Infraprojects announced launching a QIP ( Qualified Institutional Placement), a capital-raising strategy, setting floor price at ₹183.83 a share. GPT Infraprojects may give discount of up to 5% on the floor price.
The Board of directors meeting on 26 August approved the Qualified institutions placement of equity shares of face value of ₹ 10 each by GPT Infraprojects Limited.
The Kolkata based infrastructure firm GPT Infraprojects in its filing on the exchanges said that Board of Directors of the company have authorized the opening of the proposed issue of such number of Equity Shares to eligible qualified institutional buyers through a qualified institutions placement under Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.
The company also said that Pursuant to Regulation 176(1) of the SEBI ICDR Regulations, the Company may, at its discretion, offer a discount of not more than 5% (five percent) on the Floor Price so calculated for the QIP
GPT Infraprojects reaffirming its commitment to reward the shareholders during the April-June quarter had completed the bonus issue in the ratio of 1 equity share for every equity share held by the shareholders,. This was the second bonus issue by the company in the last 3 years.
The April-June quarter however has seen soft revenue growth of around 2%, largely since project executions were impacted by the Lok Sabha Election 2024.
GPT Infraprojects standalone net profit for Q1 FY '25 at ₹17.5 crores had risen by 12.2% from ₹15.6 crores in Q1 FY '24. The same was helped by lower interest costs also, while standalone earnings before interest tax depreciation and amortisation (Ebitda) had risen by around 6% year on year.
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