Gokaldas Exports hits 2nd straight 5% upper circuit on nod for QIP issue

The company's board in its meeting on October 4, 2021, approved raising up to Rs 300 crore via QIP placement of shares, the floor price for the same was fixed at Rs 194.58 per share.

Shares of Gokaldas Exports were locked at the 5 upper circuit for the second straight day, at Rs 224.40 on Tuesday on the BSE after the company announced that it has approved fund raising to the tune of Rs 300 crore via qualified institutional placement (QIP).

The stock of textiles company had hit a 52-week high of Rs 236 on August 9, 2021. Till 09:29 am; a combined around 190,000 equity shares changed hands, and there were pending buy orders for 79,000 shares on the NSE and BSE.

At its meeting held on Monday, October 4, 2021, the