The business will be set up under a new venture ‘Novel Jewels Ltd.'
The company’s total capacity will reach 48.15 MWp.
The Wonderla Holidays Ltd stock has delivered a return of 62.15 % over the past five years.
Multibagger Stock Declares Rs 3 per Share Final Dividend for Shareholders
According to Aditya Birla Capital Ltd., the preferential issuance would take place at a cost of Rs 165.1 per equity share and is pending approval from shareholders.
The floor price for the two-day OFS is set at ₹225 per share.
Analysts of IIFL Securities preferred picks are HG Infra and PNC among Road players and Powermech Projects.
Earlier, the firm based in Bengaluru held a 50% stake.
Recommendation: Add; Target Price: Rs 165
India's steel demand is projected to reach 136.97 MT in FY25, growing at 6.3%.