Gujarat Toolroom Limited, a Gujarat-based company, had a 5% increase in shares on Monday, November 25 following the successful execution of an order worth ₹31 crore for Reliance Industries.
This achievement represents another key milestone in our relationship with Reliance Industries, demonstrating our capacity to deliver high-quality projects on time, the business said in an exchange filing on Monday.
Gujarat Toolroom has completed ₹60 crore of orders for Reliance Industries in the current fiscal year.
At 11:58 am on the BSE, Gujarat Toolroom's share price went up 4.99% to ₹13.26 a share. The company has a market worth of ₹212.35 crore.
Gujarat Toolroom indicated confidence in getting new orders from Reliance in the future months, which might increase revenue and profitability.
These victories demonstrate our company's unwavering dedication to excellence, innovation, and developing long-term relationships with industry leaders, it said.
Gujarat Toolroom Fundraise
In October, Gujarat Toolroom Limited funded ₹50 crore through a Qualified Institutional Placement (QIP) at ₹11.50 per share. Institutional investors, notably Zeta Global Funds and Eminence Global Fund PCC Trade Fund, made significant contributions to the sale.
Gujarat Toolroom successfully completed its Qualified Institutional Placement (QIP), raising ₹50 crore through the issue and allotment of 4,34,78,260 equity shares at a price of ₹11.50 per share, including a premium of ₹10.50 per share. This marks an important milestone in the Company's continued expansion."
According to the filing, Zeta Global Funds (OEIC) PCC Ltd and Eminence Global Fund PCC Trade Fund 1 subscribed for 2,17,39,130 equity shares, accounting for 50% of the overall allotment.
Other Advances
In addition, the company announced a 100% dividend for the last quarter, demonstrating its strong cash flow and steady value delivery to shareholders.
