The share price of Jupiter Wagons, a mobility solutions provider plunged over 3% as the company on Monday July 8, 2024 announced that its Fund Raising Committee has approved the launch of a qualified institutional placement (QIP), setting the floor price at Rs 689.47 per equity share. The share price of Jupiter Wagons traded down over 3% to intra-day low of Rs 694.35 on NSE.

In a regulatory filing with BSE Ltd and the National Stock Exchange of India Ltd, the company stated, “We further wish to inform you that the Fund Raising Committee has fixed the ‘Relevant Date’ for the purpose of the Issue, as July 08, 2024, and accordingly the floor price in respect of the issue, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations, is Rs 689.47 per equity share.”

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The decision was made during a committee meeting held on the same day, July 8, 2024. Under SEBI regulations, Jupiter Wagons may offer a discount of up to 5% on the floor price for the QIP.

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Jupiter Wagons Q4FY24 Numbers

Jupiter Wagons announced a net profit of Rs 40.78 crore for the January-March period of FY22–23, according to a statement released by the company. The company’s total income for the quarter increased to Rs 1,121.34 crore from Rs 712.71 crore in the corresponding period last year.

Stocks Performance in last one year

In terms of stock performance, Jupiter Wagons shares have demonstrated positive returns across multiple time frames. Over the past month, the stock has given a commendable 14.06% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with a substantial increase of 106.50%, indicating a strong upward trend. 

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Year-to-date, Jupiter Wagons shares have surged by 121.62%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 310.75% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.

What is QIP based Fundraising?

Qualified Institutional Placement (QIP) serves as a primary method for listed companies to raise funds. Introduced by SEBI, this mechanism allows companies to issue securities to qualified institutional buyers (QIBs).

Historically, Indian companies faced hurdles in raising funds domestically, leading them to seek financing from international markets. To alleviate this issue, SEBI established the QIP framework, simplifying capital-raising processes within the domestic market.

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