Mitsu Chem Plast Ltd to raise Rs. 125 crores

The Board of Directors of Mitsu Chem Plast Ltd at its meeting held on July 5, 2022 which commenced at 5:30 p.m. and concluded at 11.58 p.m. has, considered and approved raising of funds aggregating upto Rs. 12,500 Lakhs (Rupees Twelve Thousand and Five Hundred Lakhs) by way of issue of equity shares through further public offer for the purpose of repayment/pre-payment, in full or part, of certain borrowings availed by the Company, funding the working capital requirements of the Company and general corporate purposes, subject to such approvals, as may be required.

The board also approved the Draft Red Herring Prospectus for filing with Securities and Exchange Board of India, BSE Limited and National Stock Exchange of India Limited (collectively, the "Stock Exchanges") as per the provisions of the Securities and Exchange Board of India ("SEBI")(Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended in connection with the proposed further public offering with the powers granted to the FPO Committee of the Board of Directors to do necessary modifications / updations as required for filing with SEBI / Stock Exchanges.

Shares of Mitsu Chem Plast Ltd was last trading in BSE at Rs. 291.75 as compared to the previous close of Rs. 285.15. The total number of shares traded during the day was 2264 in over 63 trades.

The stock hit an intraday high of Rs. 297.45 and intraday low of 283.05. The net turnover during the day was Rs. 657424.00.

Source : Equity Bulls

Keywords

MitsuChemPlast INE317V01016 FundRaising FurtherPublicOffer