Shares of Sona BLW Precision Forgings increased by 3.4% to a high of Rs 738.95 on the BSE following the company’s announcement of a successful Rs 2,400 crore raise through a Qualified Institutional Placement (QIP) on Tuesday. The QIP, which took place from September 4 to September 9, involved issuing 3.48 crore equity shares to QIBs at an issue price of Rs 690 per share, including a premium of Rs 680 per share.
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