Lloyd Electric plans to go for QIP issue

Shares of Lloyd Electric & Engineering will remain in focus on the bourses as its board of directors will meet on Monday to consider raising funds through a qualified institutional placement. The other means of fund-raising plans include issuance of equity shares through convertible bonds, depository receipts and/or any other instrument convertible or exchangeable into equity shares. The company posted a profit ₹4.39 crore for the September quarter. The size and price of the QIP will be monitored by analysts.