Goodluck India has raised INR 200 crore through QIP aligned with the company’s growth strategy.
Feb 16, 2024
Goodluck India, one the largest steel products manufacturers, recently raised INR 200 crore through the issue of equity shares on the Qualified Institutional Placement (QIP) basis. 21,27,659 equity shares at an issue price of Rs 940 per share, a premium of Rs 938 per share, aggregating to nearly Rs 200 crore were approved and allotted by the board to Qualified Institutional Buyers (QIBs).
Mr. MC Garg, Chairman of Goodluck India, said, “The recently concluded round of fundraising is well in line with the company’s growth strategy.” The company also floated a wholly-owned subsidiary, Goodluck Defense and Aerospace Private Limited, which will cater to the extensive needs of the defence and aerospace industries.
Also Read: NRL Executes One of the Longest HDD for its Crude Oil Pipeline Project from Odisha to Assam
Goodluck India Ltd. is engaged in manufacturing and exporting a wide range of ERW hot dip galvanized pipes, black pipes, black & GI hollow sections, CR coils, CRCA, galvanized & plain corrugated sheets.
