Sunteck Realty strengthens on raising Rs 500 crore through QIP

30 Oct 2017

Sunteck Realty is currently trading at Rs. 349.70, up by 3.00 points or 0.87% from its previous closing of Rs. 346.70 on the BSE.

The scrip opened at Rs. 349.40 and has touched a high and low of Rs. 356.00 and Rs. 345.25 respectively. So far 26,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 389.15 on 23-Oct-2017 and a 52 week low of Rs. 86.98 on 22-Nov-2016.

Last one week high and low of the scrip stood at Rs. 389.15 and Rs. 317.00 respectively. The current market cap of the company is Rs. 4,405.00 crore.

The promoters holding in the company stood at 73.82%, while Institutions and Non-Institutions held 14.05% and 12.14% respectively.

Sunteck Realty has raised Rs 500 crore through private placement of shares from institutional investors, mainly to fund upcoming projects. The company’s capital-raising committee approved the issuance and allocation of 1,55,27,950 shares to be allotted to eligible qualified institutional buyers pursuant to QIP aggregating up to Rs 499.99 crore.

Sunteck Realty is a Mumbai-based real estate development company, catering to the premium ultra-luxury and luxury residential segment.

Related Sunteck Realty Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323