Hindusthan National Glass & Industries has entered into a CCPS subscription agreement with Lotus One Investment and the promoters of the company. Under the agreement, the company proposes to raise funds up to Rs 393.64 crore by issuing up to 4.699 crore compulsorily convertible preference shares of face value Rs 2 each at an issue price of Rs 83.77 to the Investor on a private placement basis.
Hindusthan National Glass, a CK Somany group was founded by C K Somany, a visionary entrepreneur in 1952 with the inauguration of India’s first fully automatic glass container manufacturing plant at Rishra, near Calcutta (INDIA).
