Mold-Tek Packaging gains on raising Rs 103.6 crore through QIP

Mold-Tek Packaging is currently trading at Rs. 769.20, up by 0.75 points or 0.10% from its previous closing of Rs. 768.45 on the BSE.

The scrip opened at Rs. 779.90 and has touched a high and low of Rs. 779.90 and Rs. 761.00 respectively.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 862.15 on 13-Dec-2021 and a 52 week low of Rs. 270.05 on 30-Dec-2020.

Last one week high and low of the scrip stood at Rs. 779.90 and Rs. 716.90 respectively. The current market cap of the company is Rs. 2319.89 crore.

The promoters holding in the company stood at 33.73%, while Institutions and Non-Institutions held 24.15% and 42.12% respectively.

Mold-Tek Packaging has raised Rs 103.6 crore through Qualified Institutions Placement (QIP) and allotted 14,00,000 Equity Shares to the eligible qualified institutional buyers at a price of Rs 740 per Equity which is at a premium of 17.60 per Equity Share i.e. 2.44% on the floor price of Rs 722.40. The company is planning to deploy these funds for its entry into Injection Blow Moulding products for regulated pharmaceuticals, Food & FMCG, Cosmetics and OTC medicine segments.

The company is also investing in new plants at Kanpur, Sultanpur-Hyderabad and doubling its capacity of existing plants in Mysore and Vishakapatnam, apart from augmenting its IML printing, die-cutting and tool room capacities.

Mold-Tek Packaging (MTPL) is the leader in rigid plastic packaging in India. The company is involved in the manufacturing of injection molded containers for lubes, paints, food and other products.

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