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In a filing to the stock exchange on September 26, the company said that it issued a total of 91,11,630 equity shares with a face value of ₹2 each to raise a total of ₹ 870.16 crore via the QIP.
The shares were issued at a price of ₹955 apiece, which included a premium of ₹953 per piece, the company informed the bourses.
Following the QIP, the paid-up equity share capital of the company increased from ₹51,41,76,740, consisting of 25,70,88,370 equity shares to ₹53,24,00,000 consisting of 26,62,00,000 equity shares.
At its meeting on September 24, 2024, the board of directors of KEC International approved the resolution to open the Issue on the same day.
According to a Moneycontrol report, ICICI Pru Life, DSP India, ABSL Fund, BlackRock Emerging Frontiers Fund and SBI Life Insurance, were among the entities allotted more than 5% of the total issue in the QIP.
KEC International Limited, a part of the RPG Group, has secured orders totalling over ₹12,300 crore in the first half of the current financial year. This accounts for nearly 70% of the ₹18,102 crore in orders received throughout the entire financial year 2024.
KEC International recently secured orders worth ₹1,003 crore across various segments, including a tunnel ventilation system and associated works in the railways sector in India.
The company also secured contracts for civil and mechanical works at a steel plant and won orders for the supply of various cables, both domestically and internationally.
Earlier this month on September 5, KEC International Limited bagged new orders worth ₹1,423 crore for the design, supply and installation of 380 kV transmission lines in Saudi Arabia.
Shares of KEC International were trading 1.12% lower at ₹1,010.95 apiece on at 12.30 pm.
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