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PTC Industries allotted 2.35 lakh equity shares at Rs 6,000 apiece, under which Kacholia bought 1 lakh shares. Other investors who were allotted the shares include Himalaya Finance and Investment, Naresh Saraaf, Blue Square, Fair and Faith Consultants.
The issue price is nearly 29% discount to the current market price.
According to the latest shareholding pattern available with the exchanges, promoters own a majority stake of 63.99%, while public shareholders own the remaining 36%.
PTC Industries has been manufacturing precision metal components for critical applications for over 60 years. Through its wholly-owned subsidiary Aerolloy Technologies, the company is manufacturing and supplying Titanium and Superalloy castings for aerospace and defence applications within India as well as for exports.
The company is substantially expanding its aerospace castings capability by making a multi-million-dollar investment in a new state-of-the-art manufacturing facility at the newly acquired 50 acres in the Lucknow node of the Uttar Pradesh Defence Industrial Corridor.This facility will be fully vertically integrated with a titanium and superalloy mill, producing aerospace-grade ingots, billets, bars, plates and sheets in these critical and strategic materials.”Our foray into the defence and aerospace sectors began a while ago, and we are now poised to see immense growth and promising developments. As we proceed on this journey, our vision of building a self-reliant Aatmanirbhar Bharat remains intact and prompts us to continue working with dedication and commitment,” said Sachin Agarwal, Chairman & MD, PTC Industries.
Safran and PTC Industries recently signed a contract to provide casting parts for the LEAP engine powering single-aisle jet. Under the terms of the contract, PTC Industries will produce titanium casting parts for Safran Aircraft Engines.
In the third quarter, the company’s total income stood at Rs 59 crore, down marginally from Rs 60.9 crore posted in the year-ago period.
EBITDA for the third quarter stood at Rs 18.97 crore as against Rs 16.14 crore a year earlier with an EBITDA margin of 32.1%
Shares of PTC Industries have delivered multibagger returns to investors in the last one-year period, rising as much as 174%.
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