PG Electroplast has initiated a Qualified Institutional Placement (QIP) to raise up to Rs 1,500 crore. The floor price for the QIP is set at Rs 705.18 per share, resulting in a 6.7% equity dilution. The funds raised through this placement will be utilized for various purposes including working capital, loan repayment, and general corporate needs.

The company obtained board approval for the share placement on October 19 and secured shareholder consent through a special resolution on November 13. Sources suggest that the indicative issue price for the QIP may range between Rs 690 and Rs 699 per share. During a recent earnings call, the management highlighted the potential for significant growth and emphasized that the raised capital would be used for capital expenditures and working capital as opportunities arise. It is worth noting that PG Electroplast has confirmed that it has no plans for inorganic growth strategies.