Sintex Industries gains on plan to raise Rs 1,000 crore

26 Jul 2016

Sintex Industries is currently trading at Rs. 81.00, up by 0.35 points or 0.43% from its previous closing of Rs. 80.65 on the BSE.

The scrip opened at Rs. 81.40 and has touched a high and low of Rs. 81.95 and Rs. 80.95 respectively. So far 311071 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 121.70 on 05-Aug-2015 and a 52 week low of Rs. 63.50 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 81.95 and Rs. 79.20 respectively. The current market cap of the company is Rs. 3632.69 crore.

The promoters holding in the company stood at 32.46%, while Institutions and Non-Institutions held 31.28% and 36.27% respectively.

Sintex Industries, one of the leading plastic products makers in India, is planning to raise Rs 1,000 crore from the market by issuing debt securities on a private placement basis.  The board of the company is meeting on July 28, 2016 to consider issue of unsecured/secured redeemable non-convertible debentures/bonds aggregating up to Rs 1,000 crore on private placement basis, in one or more tranches. Further, the board would also consider issuing equity shares to the existing shareholders of the company through rights issue.

Sintex Industries is the world largest producer of plastic water tank. It manufactures a wide range of plastic products including prefabricated structures, industrial custom molding products, monolithic constructions and water storage tanks.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
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