The shares of Navin Fluorine International jumped over 3 percent on July 8 after the company launched a Qualified Institutional Placement (QIP) to raise up to Rs 750 crore. The shares of the company hit a fresh 52-week high of Rs 5,054 apiece.
In an exchange filing released in the post market hours of July 7, Navin Fluorine announced that its board has approved the launch of its QIP on the same day. The company has set a floor price of Rs 4,798.28 per share for the QIP, based on the pricing formula set by SEBI.
The company said that it may offer a discount of up to 5 percent on the floor price, and the issue price will be determined in consultation with the book running lead manager appointed for the Issue. Accordingly, the preliminary placement document for the QIP was placed with the stock exchanges.
Navin Fluorine shares have gained nearly 15 percent in the past one month, and over 44 percent in the past six months. The stock has gained over 54 percent so far in 2025. The shares of the company pared some gains to close at Rs 5,052 apiece.
The sharp rise in the share price came on the back of heavy trading volumes. Nearly 3.46 crore shares of the company were involved in active trade today, according to data on NSE. This is more than double of its 10-day average volume.
Navin Fluorine currently has a market capitalization of Rs 25,045 crore.
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