Jupiter Wagons shares in news today as QIP in progress, check details 

Shares of Jupiter Wagons Ltd are in news today after the firm said its Fund Raising Committee has cleared the launch of a qualified institutional placement (QIP), fixing the floor price at Rs 689.47 per equity share.

In the previous session, Jupiter Wagons shares ended 0.95% lower at Rs 723.20 against the Friday's close of Rs 730.15 on BSE. Total 3.96 lakh shares of the firm changed hands amounting to a turnover of Rs 28.66 crore on BSE. The market cap of the firm stood at Rs 29,817 crore on BSE.     

"We further wish to inform you that the Fund Raising Committee has fixed the ‘Relevant Date’ for the purpose of the Issue, as July 08, 2024, and accordingly the floor price in respect of the issue, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is Rs 689.47/- per equity share," according to a stock exchange filing.

The decision was announced after the committee's meeting held on July 8. Under SEBI regulations, Jupiter Wagons is likely to offer a discount of up to 5% on the floor price of the issue. The issue opened on July 8. 

Jupiter Wagons is engaged in the business of manufacturing of railway wagons, passenger coaches, wagon components and castings in India. The company's integrated facilities are engaged in the manufacture of railway wagons, high-speed bogies and railway castings.