Jupiter Wagons Raises Rs 800 Crore From Institutional Buyers

The fundraising committee of Jupiter Wagons Ltd. has approved the closure of the qualified institutional placement. The company has raised nearly Rs 800 crore from issue of shares to institutional buyers.

The committee had approved the allocation of 1.22 crore shares at an issue price of Rs 655.50 apiece, with a discount of 4.93% to the floor price of Rs 689.47 per share, according to an exchange filing by the railway wagons manufacturer.

The issue opened on Monday and at its meeting, the committee approved the closure of the issue on Thursday, it said.

The committee also finalised the allocation note to be sent to eligible qualified institutional buyers, informing them about the allocation of equity shares pursuant to the issue.

Shares of Jupiter Wagons closed 0.23% higher at Rs 689.30 apiece on the BSE, compared to a 0.03% fall in the benchmark Sensex on Thursday.