Indo Rama Synthetics has raised funds through issuance of 8,30,00,000 equity shares by way of preferential issue on private placement basis to promoter group Company, Indorama Netherlands B.V., subsidiary of Indorama Ventures Public Company at Rs 36 per equity share aggregating to Rs 298.80 crore, and also issuance of 1,72,00,000 equity shares to Siam Stock Holdings at Rs 36 per equity share aggregating to Rs 61.92 crore on private placement basis.
Above investments aggregates to amount worth Rs 360.72 crore. The fund raised will be used for long-term working capital & future growth requirements.
Indo Rama Synthetics (India) has focused business activities in the field of Textiles, Polyesters and Industrial Chemicals.
