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The company's board authorised and declared the opening of the issue on Thursday, 23 November 2023.
The floor price of Rs 5,540.33 is at a discount of 2.53% to the previous day's closing price of Rs 5,683.90 on the BSE.
The company may offer a discount of not more than 5% on the floor price so calculated for the issue.
The issue price will be determined by the company in consultation with the lead managers appointed for the issue.
Apar Industries is engaged in three broad business segments-transformer oils and specialty oils (TSO), conductors segment, and power/telecom cables. Apart from being a market leader in India, the company has a global presence, exporting to over 140 countries.
The company’s consolidated net profit jumped 69.4% to Rs 173.88 crore on 21.1% increase in net sales to Rs 3,893.96 crore posted in Q2 FY24 over Q2 FY23.
The scrip fell 0.97% to Rs 5,628.80 on the BSE.
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