Shares of this small-cap railway company surged by more than 3 per cent on raising Rs 125 crore
The company's main line of business is the fabrication of metal, including the manufacture of components, rail freight wagons, and load bodies for commercial vehicles.
Jupiter Wagons Ltd (JWL) has completed its Rs 125 crore fundraising effort through a qualified institutional placement (QIP). Investors including Tata Mutual Fund, Ananta Capital, ITI Mutual Fund, and others responded enthusiastically to the QIP.
Jupiter Wagons Ltd will use the money raised through QIP to expand more quickly and keep up its position as one of the most rapidly expanding businesses in the mobility solution industry. JWL intends to use the money for other business needs, the purchase of Stone India, and working capital management.
The scrip opened today at Rs 116.25 and touched the day high and low of Rs 121.30 and Rs 116.25, respectively. Its 52-week high stood at Rs 127.80, whereas its 52-week low was Rs 45.80. The current market cap of the company is Rs 4,633.87 crore. Promoters hold 74.62 per cent, whereas the Institutional and non-institutional holdings are 1.50 per cent and 23.88 per cent, respectively.
DSIJ offers a product 'Tiny Treasure' with recommendations for Small-Cap & micro-cap stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the product details pdf here
The company makes vehicle bodies for the commercial vehicle industry for Original Equipment Manufacturers ("OEMs") who make Fully Built Vehicles ("FBVs"). In addition, the organisation has established enduring bonds with OEMs like Tata Motors and the Ministry of Defence, as well as with business organisations operating sizable private fleets of vehicles including Reliance Petroleum, Reliance Industries, and Som Datt Builders. Further, it has a wide range of product offerings in the commercial vehicles division. Vehicle bodies designed & manufactured by the company cater to a variety of requirements in different industries and sectors.