Earlier, Servotech Power Systems bagged an order from Bharat Petroleum Corporation Limited (BPCL), an Indian public sector undertaking (PSU).
Servotech Power Systems, a small-cap company, has revised the issue price of warrants from Rs 82 per equity share to Rs 83.40 per share. The decision in this regard was taken in a board meeting held on Tuesday. Due to change in Servotech Power Systems preferential issue price, the issue size would change from Rs 73.80 crore to Rs 75.06 crore.
“The Board approved the revision/change in issue price to Rs. 83.40 (Eighty Three and Forty Paisa Only) per warrant to be allotted on a preferential basis (instead of earlier decided issue price of Rs. 82/- per warrant) and revise/change and resultant revision of issue size from Rs. 73.80 Crores to Rs. 75.06 Crores,” said Servotech Power Systems in a stock exchange filing.
Meanwhile, the shares of Servotech Power Systems opened higher at Rs 76.95 apiece. The counter has generated a multibagger return of 396.81 per cent in 1 year and on year till date (YTD) basis the scrip has gained 380.54 per cent so far in 2023.
Earlier, Servotech Power Systems bagged an order from Bharat Petroleum Corporation Limited (BPCL), an Indian public sector undertaking (PSU). Sharing details, the company in an exchange filing said that the order is for manufacturing, supplying and installing EV chargers at different locations across the country in the next four months.
“We are honoured to lead India’s E-Mobility revolution in partnership with BPCL, collaborating closely to establish an energy corridor enabling on-the-move charging for electric vehicles across India. The company’s state-of-the-art AC EV Chargers will contribute to the realization of India’s ambitious goals in the E-Mobility sector,” Sarika Bhatia, Director of Servotech Power Systems Ltd. said.