GPT Infraprojects gains nearly 4% on QIP launch, floor price fixed at ₹183.83 per share; check details

In an exchange filing on August 26, the Kolkata-based company said that its fundraising committee had approved a qualified institutional placement (QIP) to raise funds. A QIP is a way for listed companies to issue equity shares or convertible securities to QIBs or qualified institutional buyers to raise capital.

GPT Infra's filing said that the fundraising committee had approved the Preliminary Placement Document dated August 26 and authorised the issue to eligible QIBs.

The floor price of the QIP has been set at ₹183.83 per equity share. According to the stock exchange filing, the company may offer a 5% discount on the floor price. The face value of the shares has been fixed at ₹10 apiece.

GPT Infraprojects shares opened nearly flat at ₹186.55 apiece before consolidating. The stock gained 3.74% in the early deals to touch an intraday high of ₹193.75 per share on NSE.

Headquartered in Kolkata, GPT Infraprojects Limited carries out civil and infrastructure projects and manufactures railway concrete sleepers. It specialises in infrastructure projects related to railways, roads, power and industrial sectors. The company's concrete sleeper operations are spread across India, South Africa, Namibia, and Ghana, as per its website.

On August 23, the company announced that it had bagged an order worth ₹13 crore from the Eastern Railway. The order entails the manufacture and supply of special sleepers to the railways. The outstanding order book for GPT Infraprojects now stands at ₹3,682 crore with a total order inflow for fiscal 2025 of ₹825 crore.

GPT Infra shares pared the early gains and were trading 1.90% lower ₹183.2 a piece at 1:10 PM on Tuesday on the NSE.