Mukul Agrawal Stock PTC Industries Announces QIP Issue With Rs 13,894.42 Floor Price

For over 56 years, PTC Industries Limited has produced premium engineered components for a range of critical and super-critical applications. More than 75% of PTC's products are exported to different nations worldwide, where they are purchased by well-known clients like Emerson, Siemens, GE, Alstom, Rolls-Royce, and Metso, among others. Following the approval of the floor price of Rs 13,894.42 per equity share by the company for the QIP, the shares of PTC Industries are in focus on Thursday.

"We further wish to inform you that the Listing Committee has fixed the 'Relevant Date' for the purpose of the QIP, in terms of Regulation 171 of the SEBI ICDR Regulations as August 28, 2024 and accordingly the floor price in respect of the QIP, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is ₹13,894.42 per Equity Share. Pursuant to Regulation 176(1) of the SEBI ICDR Regulations, the Company may, at its discretion, offer a discount of not more than 5% (five percent) on the Floor Price so calculated for the QIP.The Listing Committee meeting commenced at 09:30 PM and the meeting was concluded at 10:45 PM," said PTC Industries in a stock exchange filing.

PTC Industries recently acquired a hot rolling mill on August 24, 2024, with the goal of increasing the production of titanium alloy plates and sheets for use in aerospace and defence. A hot rolling mill for producing titanium alloy plates and sheets for aerospace and defence applications was recently acquired by Aerolloy Technologies Limited, a wholly owned subsidiary of PTC Industries Limited. The company produces high integrity metal components and strategic and critical materials for a range of critical and super-critical applications in aerospace and defence.

The acquisition of this advanced ability from the United States signifies a noteworthy achievement for the organisation. As part of the UP Defence Industrial Corridor (UPDIC), ATL's upcoming Strategic Materials Technology Complex in Lucknow will produce titanium alloy ingots and billets with additional value added. The firm will be able to cover the whole value chain of titanium alloy products with this acquisition of a hot rolling mill since its offerings now include titanium alloy ingots, billets, bars, rods, castings, and now plates and sheets as well.

Thinner titanium sheets, which are essential for defence and aerospace applications like aircraft wings and marine engineering for corrosion-resistant ship components, etc., can now be produced thanks to this manufacturing capability.

PTC Industries is among the portfolio stocks of ace investor Mukul Mahavir Agrawal in which he held fully paid-up equity shares of 1,67,000 which is 1.16% stake of the company during the quarter ended June 2024.