On December 31, 2022, the company plans to raise funds after the BOD considers and approves then NIBE hit an upper circuit of 5% to Rs 346.55.

The company will schedule a board meeting with its Board of Directors on Saturday, December 31, 2022, to consider and approve the proposal for fundraising by way of the issue of equity shares/convertible warrants and/or any other instruments through a preferential issue on a private placement basis.

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The company has to trade in electronic components, job work, fabrication materials relating to fabrication works and consultancy in a technical project and provider in the field of testing, supply, design, erection, and commissioning of Low voltage & Medium voltage lines, including substations on turnkey basis.

On a standalone basis, the company’s net profit has reported at Rs 1.09 crore on September 2022, compared to a net loss of Rs 1.15 crore on September 21. Net sales of Rs 17.22 crore in July-September of FY23, steeply higher than Rs 3.32 crore in July-September of FY22.