Torrent Power is currently trading at Rs. 1672.55, up by 48.70 points or 3.00% from its previous closing of Rs. 1623.85 on the BSE.
The scrip opened at Rs. 1621.25 and has touched a high and low of Rs. 1685.00 and Rs. 1613.50 respectively. So far 12132 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2037.35 on 22-Oct-2024 and a 52 week low of Rs. 869.35 on 21-Dec-2023.
Last one week high and low of the scrip stood at Rs. 1704.00 and Rs. 1613.50 respectively. The current market cap of the company is Rs. 84051.11 crore.
The promoters holding in the company stood at 53.57%, while Institutions and Non-Institutions held 36.66% and 9.77% respectively.
Torrent Power has raised Rs 3500 crore through Qualified Institutions Placement (QIP). The issue garnered significant response from investors including domestic mutual funds, global investors and insurance companies, demonstrating their strong confidence in the Company’s fundamentals and India’s power sector.
The QIP saw a very strong demand of approximately 4x the size of the issue (receiving bids of about Rs 14,000 crore) against the base issue size of Rs 3,500 crore from a mix of international and domestic investors. The entire issue was placed with marquee long only investors such as SBI MF, Capital Group, SBI Pension, Kotak MF, Nippon MF, Norges Bank and Amundi.
This marks the maiden equity raise by the Company and first equity raise in last three decades by the Torrent Group. Torrent Power’s QIP is one of the largest fund raise conducted by a private utility player in India during the current financial year.
The successful completion of the issue underscores the Company’s strong credentials and highlights the company’s future growth prospects as one of the fastest growing in the country’s power sector. The QIP issue had opened on December 02, 2024, and was concluded on December 05, 2024.
Torrent Power is an integrated utility engaged in the business of power generation, transmission and distribution with operations in the states of Gujarat, Maharashtra and Uttar Pradesh.
| Company Name | CMP |
|---|---|
| NTPC | 393.65 |
| Tata Power | 427.45 |
| Adani Power | 198.40 |
| Power Grid Corp | 318.05 |
| Torrent Power | 1565.30 |
| View more.. | |
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