BSE-listed small-cap penny stock completes ₹96 crore QIP. Mauritius-based FII among share allottees

Gujarat Toolroom Ltd., a BSE-listed small-cap company, announced the successful completion of a Qualified Institutions Placement (QIP), raising ₹95.66 crores. This initiative involved the issuance of 7.19 crore equity shares at ₹13.30 each, which includes a premium of ₹12.30 per share, the company announced in an exchange filing on December 27, 2024.

Gujarat Toolroom share price was trading in the green, up 4.94 per cent, at ₹14.88, at 11:12 am, on December 28, on BSE. The company enjoys a market capitalisation of ₹345.31 crore, as per BSE.

Names of allottees with numbers included as specified

Bridge India Fund was allotted 1,79,81,202 equity shares (7.75% post-issue shareholding).

Eminence Global Fund PCC – Trade Fund 1 was allotted 1,79,81,204 equity shares (7.75% post-issue shareholding).

Multitude Growth Funds Limited was allotted 1,79,81,202 equity shares (7.75% post-issue shareholding).

Northstar Opportunities Fund VCC – Bullvalue Incorporated VCC Sub-Fund was allotted 1,79,81,202 equity shares (7.75% post-issue shareholding).

Collectively, these allotments account for 31% of the post-issue equity share capital.

Following the QIP, Gujarat Toolroom's paid-up equity share capital expanded from Rs16.01 crore to ₹23.21 crore. The company emphasized that the process adhered strictly to regulatory requirements under SEBI (ICDR) Regulations, 2018, and the Companies Act, 2013.

“The shareholding pattern of the company, before and after the QIP, will be submitted along with the listing application in accordance with Regulation 31 of the SEBI (LODR) Regulations, 2015,” the company announced in an exchange filing.

"We are encouraged by the confidence shown by these reputable institutional investors," stated Rakesh Kumar Sharma, Managing Director of Gujarat Toolroom Ltd.

The updated shareholding pattern will be submitted to regulatory authorities, ensuring compliance with SEBI (LODR) Regulations, 2015.

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