Borosil Renewables has raised Rs 200 crore by issuing 1.58 crore shares through qualified institutional placement (QIP). The issue opened on December 14, 2020, and closed on December 17, 2020. The company allotted 1,58,04,030 shares of the face value of rupee one each at Rs 126.55 per share. Post the QIP issue, the holding of promoter and promoter group will be 61.92 per cent.
The funds raised will be utilised by the company to service its capital expenditure requirements for a brownfield expansion to more than double its solar glass production capacity from 450 tonnes per day (TPD) to 950 TPD.
Borosil is the single largest manufacturer of the complete range of volumetric glassware in the country. Their volumetric products find usage in all laboratories from high-end pharmaceutical production to high schools and colleges.
Company Name | CMP |
---|---|
Asahi India Glass | 578.00 |
Hind National Glass | 22.03 |
Borosil Renewables | 519.40 |
Empire Inds | 1059.55 |
La Opala R G | 321.60 |
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