Prakash Industries is currently trading at Rs. 134.65, up by 3.90 points or 2.98% from its previous closing of Rs. 130.75 on the BSE.
The scrip opened at Rs. 132.25 and has touched a high and low of Rs. 135.65 and Rs. 132.25 respectively. So far 110992 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 151.60 on 31-Oct-2017 and a 52 week low of Rs. 42.05 on 05-Dec-2016.
Last one week high and low of the scrip stood at Rs. 140.70 and Rs. 126.80 respectively. The current market cap of the company is Rs. 2046.65 crore.
The promoters holding in the company stood at 40.79%, while institutions and non-institutions held 11.68% and 47.52% respectively.
Prakash Industries has received nod to raise Rs 125 crore through issuance of 91,07,500 Convertible Equity Warrants on Preferential basis. The proceeds from preferential issue will be utilized to augment the working capital of the company and to meet other long term requirements including debt repayments. The board of directors at its meeting on November 17, 2017 has approved the same.
The company will issue 76,50,300 Convertible Equity Warrants at a price of Rs 137.25 each, convertible into equity shares of Rs 10 each aggregating to Rs 105 crore to Shri V.P. Agarwal, Promoter of the Company, forming part of Promoter Group and will also issue 14,57,200 Convertible Equity Warrants at a price of Rs 137.25 each, convertible into equity shares of Rs 10 each, aggregating to Rs 20 crore to Tathastu Advisors LLP.
Prakash Industries is the largest manufacturer of PVC pipes and fitting in North India. It is a brand that consumers have trusted since last 37 years.
