Gujarat State Fertilizers & Chemicals’ (GSFC) board is all set to invest in the rights issue of Karnalyte Resources Inc. upto an amount not exceeding CAD 3.25 million, equivalent to Rs 20 crore. Karnalyte Resources Inc. (KRN) is an advanced potash development/ mining company situated in Saskatchewan, Canada and listed on Toronto Stock Exchange. GSFC has made a strategic investment (presently holding 38.73%) in the project in 2013 to meet its potash requirements.
Karnalyte has raised the Rights Issue for 14,058,282 shares (ratio of 3:1 for existing shareholders) at a price of CAD 0.35 per share. The rights issue opened on June 28, 2022 and the offering shall expire on July 29, 2022. The proposed rights issue is with an intent to part finance its immediate funding requirements of CAD 4.9 million.
Gujarat State Fertilizers & Chemicals is engaged in the manufacturing of fertilizers and industrial products. The company has created more than 24 brands of fertilizers, petrochemicals, chemicals, industrial gases, plastics, fibers and other products.
Company Name | CMP |
---|---|
Coromandel Interntl. | 1185.55 |
National Fertilizers | 105.70 |
Chambal Fert & Chem | 422.80 |
RCF | 151.75 |
Paradeep Phosphates | 70.45 |
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