Trom Industries gains over 6% on securing a new order from Gujarat Metro; check details

In a filing to the stock exchanges on October 30, Trom Industries said that it has received an order to undertake a feasibility study and provide services such as design, engineering, supply, procurement and erection of a suitable structure for a solar rooftop project.

Trom Industries informed the bourses that the company will install and test 5 MW (indicative capacity) (AC) Grid-Connected Rooftop Solar Photovoltaic Power Projects.

The company mentioned that it will also undertake civil works related to the project and provide comprehensive Operation and maintenance (O&M) services for a period of 5 years. The company added that the order will be completed in a phased manner within the current financial year. The size of the contract is ₹20.7 crore, including GST.

Earlier on October 29, the company received an order from Corona Remedies Private Limited for the supply, design, installation, testing and commissioning of a grid connected ground mounted solar photovoltaic plant with a capacity of 4.25 MW DC. The company added that the supply will be completed within the current financial year in a phased manner. The order is worth ₹12.40 crore, including GST.

Trom Industries more than doubles from its IPO price

Trom Industries has more than doubled the money for the IPO investors. On August 1, the stock was listed at ₹218.5 apiece, a premium of 90% on the NSE SME platform, against the issue price of ₹115 apiece.cThe stock has gained nearly 14% against its listing price till date.

The SME issue was worth ₹31.37 crore and consisted of a completely fresh issuance of 27.28 lakh shares. The price band for Trom Industries IPO was set at ₹100 to ₹115 per share. The issue was open for subscription from July 25 to July 29.

Shares of Trom Industries have gained 3% in the last one month and nearly 12% in the past five sessions. Shares of Trom Industries were trading 4.85% higher at ₹245 apiece on the NSE at 2:30 pm.