Gujarat Toolroom Limited has raised ₹50 crores through a Qualified Institutional Placement (QIP), issuing 43,478,260 equity shares at ₹11.50 per share, including a premium of ₹10.50 per share. This capital raise marks an increase in the company’s paid-up equity capital from ₹11.66 crores to ₹16.01 crores, following the allotment of shares to institutional investors.
The QIP saw participation from prominent entities, including Zeta Global Funds (OEIC) PCC Ltd and Eminence Global Fund PCC Trade Fund 1, each subscribing to 21,739,130 shares, together representing 50% of the total allotment.
The funds raised will be utilized for a variety of strategic objectives, including investments in the company’s expansion projects, clean energy research, and the development of its mining operations. Additionally, the company will allocate a portion of the capital to meet working capital requirements, supporting its ongoing operations.
This QIP is part of Gujarat Toolroom’s broader strategy to strengthen its position in the sectors it operates in, which include mining, manufacturing, and clean energy development.