Rajoo Engineers Ltd Successfully Raises Rs 160 Crore via QIP

Rajoo Engineers Ltd, a prominent plastic extrusion machinery manufacturer, has successfully raised Rs 160 crore in a qualified institutional placement (QIP) issue. The capital influx was driven by strong demand from both domestic and international investors, underscoring the company's growing appeal in the market.

Notable participants in the QIP included Morgan Stanley Asia (Singapore), HDFC Bank, and Rajasthan Global Securities, demonstrating significant confidence in the company's strategic direction. The QIP entailed the issuance of 1,46,78,900 equity shares at a price of Rs 109 per share, closing on July 21.

The raised funds will empower Rajoo Engineers Ltd to enhance its operational capacity and product range, with a focus on strategic acquisitions to bolster its market presence. The increase in Foreign Institutional Investor (FII) holding to 3.8% and Domestic Institutional Investor (DII) holding to 4.46% highlights the strengthened investor confidence in the company's future prospects.

(With inputs from agencies.)