Rajoo Engineers Secures ₹180 Crore Through QIP for Strategic Acquisitions.

Rajoo Engineers, a prominent manufacturer of plastic extrusion machinery, is set to raise ₹180 crore through a Qualified Institutional Placement (QIP). This strategic move aims to fuel the company's future growth initiatives.

The company's board has given its nod to issue equity shares at a floor price of ₹114.42 per share. This comes after its share price closed at ₹131 apiece last Monday. In adherence to current regulations, Rajoo Engineers is offering a discount of less than 5% on the stated floor price for the QIP.

GYR Capital Advisors has been appointed as the Book Running Lead Managers for this issue, overseeing the placement with qualified institutional buyers. The successful completion of this QIP is expected to provide Rajoo Engineers with significant capital to pursue its expansion plans.