Goodluck India hits 52-week high on getting the nod to raise Rs 200 crore via QIP

On Wednesday, Goodluck India shares were trading at its 52-week high of Rs 932.50, up by 2% from its previous closing of Rs 914.20 on the BSE.

Goodluck India has received approval for raising funds through the issuance of equity shares of the company by way of Qualified Institutions Placement (QIP) in accordance with the provisions of Chapter Vl of Securities and Exchange Board of India (issue of Capital and Disclosure Requirements) Regulations, 2018 as amended from time to time and other applicable laws, in one or more of the tranches for an aggregate amount up to Rs 200 crore, (inclusive of such discount or premium to market price or prices permitted under applicable law), subject to necessary approval including the approval of the members of the Company and such other permissions, sanctions and statutory approvals, as may be required. The meeting of the Board of Directors of the Company held on November 15, 2023, has inter alia considered and approved the same.

Incorporated in 1986, Goodluck India is a certified manufacturer and exporter of a precision-engineered range of Cold Drawn Welded Tubes & Precision Tubes. The company mainly manufactures sheets, pipes, engineering structures, fabricated structures, forgings, and automobile tubes. It has five manufacturing facilities in Sikanderabad (Uttar Pradesh) and one recently operational in Kutch (Gujarat), with a total installed capacity of more than 4,12,000 tonnes per annum.

Today, the stock closed at Rs 916.30 with a slight gain of 0.23% from its previous closing. The scrip opened at Rs 932.50 and touched a high and low of Rs 932.50 and Rs 908.35, respectively.  The BSE group ‘B’ stock of face value Rs 2 has touched a 52-week high and low of Rs 932.50 and Rs 355.55, respectively. Last one week high and low of the scrip stood at Rs 932.50 and Rs 810, respectively. The current market cap of the company is Rs 2,497.49 crore.

The promoters holding in the company stood at 58.73%, while Institutions and Non-Institutions held 0.11% and 41.16% respectively.

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