The board of Rajoo Engineers Ltd. approved raising funds worth Rs 225 crore through qualified institutional placements or QIP.
The approved funds will be raised in one or more tranches, subject to the necessary approval from the shareholders of the company, according to an exchange filing on Tuesday.
Rajoo Engineers has appointed GYR Capital Advisors Pvt. Ltd. as the book-running lead manager, while Vidhigya Associates will join as the legal counsel to the company for the QIP.
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The company's revenue from operations stood at Rs 56.08 crore, representing a 6.67% fall for the third quarter of the current fiscal 2025 as compared to Rs 60.08 crore for the same period last year.
Its net profit soared to Rs 8.89 crore, denoting a 55.79% rise for the quarter under review as against Rs 5.71 crore for the year-ago period.
The Gujarat-based firm's earnings before interest, tax, depreciation and amortisation surged by 40.73% to Rs 10.83 crore for the October-December quarter from Rs 7.70 crore for the same period in the corresponding year.
Margin expanded to 19.32% for the quarter ended December from 12.81% for the same period last year.
Shares of Rajoo Engineers closed 4.77% lower at Rs 118.70 apiece on the BSE, compared to a 0.13% fall in the benchmark Sensex 30. The stock has risen by 59.10% in the last 12 months.
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