Transformers And Rectifiers (India) was locked in upper circuit of 5% at Rs 769.15 after its board approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 699.95 per share.
The company's board authorized and declared the opening of the issue on Monday, 10 June 2024.The floor price of Rs 699.95 is at a discount of 4.45% to the previous day's closing price of Rs 732.55 on the BSE.
The company may offer a discount of not more than 5% on the floor price so calculated for the issue.
Transformers & Rectifiers (India) produces transformers for both domestic and international markets.
The company reported a consolidated net profit of Rs 41.62 crore in Q4 FY24, steeply higher than Rs 9.6 crore in Q4 FY23. Revenue from operations increased 16.96% to Rs 512.7 crore in Q4 FY24.
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