Centum Electronics Launches QIP, Sets Floor Price At Rs 1,219.65 Per Share
The issue size for the QIP has been set at Rs 175 crore with a green shoe option of Rs 75 crore.
Centum Electronics Ltd. on Tuesday announced the launch of its Rs 250 crore qualified institutional placement. The floor price for the QIP has been fixed as Rs 1,219.65 per equity share, according to an exchange filing.
The floor price set for the issue marks a discount of 1.2% as against the stock's last closing price.
The issue size for the QIP has been set at Rs 175 crore with a green shoe option of Rs 75 crore, according to the term sheet details accessed by NDTV Profit. The indicative issue price is at Rs 1,160 per share which is at a 4.89% discount to the floor price and a 3.72% discount from the last closing price on NSE.
The merchant banker for the QIP is DAM Capital Advisors Ltd.
The company's order book stood at Rs 1,861.3 crore, with Built to Specific segment winning the highest orders followed by EMS and Engineering Services.
The Bangalore-based company recorded a consolidated net loss of Rs 19.30 crore for the quarter ended December, compared to a profit of Rs 10.70 crore in the same quarter of the previous fiscal year, according to its stock exchange notification.
Revenue fell by 7.1% year-on-year for the three months ended December, reaching Rs 281.95 crore. Operating income, or earnings before interest, taxes, depreciation, and amortisation, fell 42% year-on-year to Rs 19.96 crore. The Ebitda margin narrowed to 7.1% from the earlier 11.3%.
Shares of Centum Electronics were trading at 1,272 apiece, up over 5%, on Tuesday, soon after the market opened.
