India's Pitti Engineering hits record high after approving capital raise

Pitti Engineering

09/07/2024 06:32

** Shares of Pitti Engineering  PITE.NS  up 4.2% at record
high of 1,172 rupees
    ** Engineering co on Monday approved the launch of a
qualified institutional placement to raise 3.60 bln rupees (~$12
mln)
    ** Floor price for institutional investors set at 1,054.25
rupees, ~ 9% discount to last close; co yet to set issue price
    ** Stock up 67% YTD
    
    

($1 = 83.4990 Indian rupees)

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))