Skipper board approves to raise Rs 600 crore

The company may issue equity shares or any other equity linked instruments or securities, including convertible preference shares/ fully or partly convertible debentures or by way of a composite issue of non-convertible debentures and warrants entitling the warrant holder(s) to apply for equity shares, or any other eligible securities through inter alia, a private placement (including one or more qualified institutions placements)/ further public issue of equity/ debt securities, preferential issue or through any other permissible mode.

The proposal is subject to such approvals as may be required, including the approval of the members at and other statutory/regulatory/other approvals, as applicable.

Skipper is one of the leading companies in the power transmission & distribution and the polymer segment. With over 42+ years of domain knowledge it is largest in India and tenth globally basis the manufacturing capacity.

The company reported a consolidated net profit of Rs 32.42 crore in Q1 FY25, steeply higher than Rs 16.25 crore posted in Q1 FY24. Revenue from operations was at Rs 1,091.74 crore in the quarter ended June 2024, up 96.85% YoY.

The scrip rose 0.22% to Rs 434.40 on Tuesday, 27 August 2024.