Latest News: GPT Infraprojects Ltd Board Approves Fundraising of ₹175 Crores
The share price of GPT Infraprojects Ltd, a leading construction firm, surged by 5% to ₹164.85 per share after the company’s board approved a plan to raise funds of ₹175 crores through various financial instruments. This small-cap company with a market capitalization of ₹1,917 crore has been performing exceptionally well in the market.
In a recent exchange filing, GPT Infraprojects Ltd announced that it will be raising funds through equity shares and other financial instruments, including public or private offerings, preferential allotments, or qualified institutional placements. This move is expected to strengthen the company’s financial position and support its growth initiatives.
The stock of GPT Infraprojects has delivered impressive returns of 113% in the last six months and a staggering 364% in the past year. Shareholders who invested ₹1 lakh in the company a year ago would now see their investment worth ₹4.64 lakhs, showcasing the company’s strong performance in the market.
Financially, the company has shown significant growth, with a 10% increase in revenue year on year and a 50% increase in net profit. GPT Infraprojects Ltd is engaged in executing civil and infrastructure projects and is also a leading manufacturer of concrete sleepers for railway tracks. The company has a diverse client base, including prominent names like RITES, NHAI, and Ircon International Ltd.
With a solid order book of ₹3,099 crores as of the March quarter, GPT Infraprojects is well-positioned for future growth. The company’s promoter holds a 75% stake, while domestic institutional investors and retail investors hold 4.51% and 19.76% stakes, respectively.
Overall, GPT Infraprojects Ltd’s decision to raise funds and its strong financial performance indicate a promising future for the company in the construction and infrastructure sector. Investors and market enthusiasts are keeping a close eye on the developments at GPT Infraprojects as it continues to make strides in the market.