Rs 8,501.9 Crore Order Book: T&D Infrastructure Company Approves Rs 433 Crore Fund Raise; Bandhan Small Cap Fund To Increase Stake

On Wednesday, Indian equity benchmarks ended lower, with the benchmark Nifty 50 index declining 0.33 per cent to 23,405.60. Amid the weak market sentiment, Skipper's share price ended at Rs 569.75, down 0.38 per cent from the previous close. The stock remained in focus after the company's board approved a preferential issue to raise up to Rs 433.50 crore from a group of institutional investors.

Skipper Board Approves Rs 433 Crore Preferential Issue

Skipper informed the stock exchanges that its Board of Directors has approved raising up to Rs 433.50 crore through the issuance of equity shares on a preferential basis, subject to shareholder approval. The proposal will be placed before shareholders through an Extraordinary General Meeting scheduled for June 26, 2026.

The company plans to issue up to 92.23 lakh equity shares having a face value of Re 1 each at an issue price of Rs 470 per share, including a premium of Rs 469 per share. The aggregate fundraising size stands at Rs 433.49 crore.

Skipper Global Investors And Mutual Funds To Participate

The proposed allotment will be made to investors falling under the non-promoter category through a private placement route.

According to the filing, Smallcap World Fund Inc will receive 59.03 lakh shares, making it the largest proposed allottee. Cohesion MK Best Ideas Sub-Trust will be allotted 15.96 lakh shares, while Emerge Private Opportunities Trust I will receive 10.64 lakh shares. Bandhan Small Cap Fund is proposed to receive 5 lakh shares and American Funds Insurance Series Global Small Capitalisation Fund will be allotted 1.61 lakh shares.

Following the allotment, Smallcap World Fund Inc is expected to hold 4.83 per cent of the company's equity, while Cohesion MK Best Ideas Sub-Trust and Emerge Private Opportunities Trust I will hold 1.31 per cent and 0.87 per cent, respectively. Bandhan Small Cap Fund's stake will increase to 1.76 per cent.

Shareholder Approval Through EGM

The company stated that the preferential issue remains subject to shareholder approval and other applicable regulatory approvals. The relevant date for determining the issue price has been fixed as May 27, 2026. The Board meeting commenced at 3:00 PM and concluded at 3:30 PM on June 3, 2026, during which the fundraising proposal was approved.

About Skipper 

Skipper Ltd is engaged in the transmission and distribution (T&D) infrastructure business and is one of India's manufacturers of transmission towers, telecom towers, Railway electrification structures and polymer pipes.

The company executes infrastructure projects across power transmission, distribution and railway sectors and has a presence in both domestic and international markets. Skipper serves utilities, EPC companies and government agencies through its engineering and manufacturing capabilities.

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Disclaimer: The article is for informational purposes only and not investment advice.