KEI Industries approves Rs 20 billion QIP proposal

KEI Industries Ltd’s board of directors has approved a proposal to raise Rs 20 billion through a qualified institutional placement (QIP). The funds will be raised via the issuance of equity shares or other eligible securities, subject to shareholder and regulatory approvals. A “Fund Raising Committee” has been formed to finalize the QIP’s terms and conditions.

In its financial results for H1FY25 (April to September), KEI Industries reported:

• Domestic institutional sales of wire and cable reached Rs 11.89 billion, up from Rs 10.04 billion in H1FY24.
• Sales of extra high voltage (EHV) cables dropped to Rs 1.52 billion from Rs 2.18 billion in the previous year.
• Total institutional sales, including exports, grew by 2.68% year-on-year and contributed 38.87% of total sales in H1FY25.
• Wire and cable sales via the dealer/distributor network grew by 32.75% year-on-year.
• The company’s order book, as of September 30, 2024, stood at Rs 38.47 billion, covering EPC works, EHV cables, and domestic and export businesses.