Multibagger stock Hitachi Energy dips 4% as it launches QIP at floor price of ₹12,112.50

Stock Market Today: Multibagger Hitachi Energy share price declined 4% during the intraday trade on Tuesday after the company launched a QIP at a floor price of ₹12112.50, which was more than 4.7% lower than the previous closing price of ₹12715.35.

Hitachi Energy India share price movement

Hitachi Energy India share price opened at ₹12,557.95 on the BSE on Tuesday, more than 1% lower than the previous day's closing price of ₹12,715.35. 

The stock, however, rose to the day's high of ₹12,829.30, recording some gains. But it soon slipped to an intraday low of ₹12,217, translating into a decline of over 4%. 

The stock has corrected significantly from the 52-week or 1-year high seen in October 2024 amid a weakness in the Indian stock market. However, the stock has risen multifold, giving multibagger returns to investors.

Hitachi Energy India launches QIP to raise funds

Hitachi Energy India, on Monday, after market hours, announced the outcome of the fund raising committee meeting held on March 10, 2025.

The committee authorised the opening of the issue on March 10, 2025.

The fund raising committee set the floor price of ₹12,112.50 per equity share. While the floor price was set being calculated based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations, the floor price was almost 4.75% lower than previous days closing price of ₹12715.35 for the stock.

The fundraising committee said that the company may, at its discretion, offer a discount of not more than 5% on the floor price so calculated for the issue. The issue Price will be determined by the Fund Raise Committee in consultation with the book running lead managers appointed in relation to the issue price.

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