The proposed investors include marquee investors and high net worth individuals (HNIs) such as Rekha Rakesh Jhunjhnwala.
Company says this is the first time it has proposed to raise equity capital since its IPO in 2010
For the quarter ended March 2020, net profit of the company came in at Rs 30.47 crore, down 25.2 per cent against Rs 40.77 crore in the year-ago period.
In another news, rating agency ICRA on Tuesday revised the long-term fund-based facilities of the company to [ICRA]A(Negative) from [ICRA]A+(Negative)
The project comprises of a design, build and operate (DBO) scope worth Rs 940 crore and hybrid annuity scope worth around Rs 247 crore, it added.
For the nine month period ending December 31, 2018 total income was Rs 2,103.34 crore against Rs 2,422.83 crore
The stock moved higher by 16% to Rs 324, rallied 27 per cent in past one week after Norges Bank hiked stake in the company through open market purchases.
Deep Raj Saxena, CEO Middle East & Africa Cluster, VA Tech Wabag, said the order was a major breakthrough for the company in Saudi Arabia
The stock was up 4% to Rs 518 on the BSE after the company said that it won orders worth of Rs 5,200 million under Namami Gange scheme and repeat order from oil & gas sector
The stock up 3% to Rs 614 as the company received a repeat order worth Rs 386 crore from the BWSSB.
This is the second order for Wabag from Dangote after the raw water treatment plant order
The stock was up 5% to Rs 490 after the company reported a strong 70% YoY jump in profit at Rs 24 crore in Q2FY17.
This is the highest ever order intake clocked by the Group in a single financial year
The stock was 5% to 534 after the company said it has won record orders worth of Rs 5,000 crore in the FY16.
The stock rallied 5% to Rs 462 on the BSE in early morning trade.
The company said VA Tech Wabag Egypt Ltd, a subsidiary of VA Tech Wabag GmbH, Austria has been liquidated.