PI Industries, a leading Indian Agri-input and Custom Synthesis company has raised Rs. 117.33 crore through the QIP route. The company issued 19,24,656 equity shares of face value of Rs 5 per equity share at a price of Rs 609.60 including a premium of Rs 604.60. Post issue the promoters holding will be 58.85% as against 63.35% on December 31, 2012.
Meanwhile, the company has identified several growth opportunities in its areas of business and intends to use the net proceeds received from this issue for augmenting long term resources for future expansion, meeting long term working capital requirements and for other general corporate business purposes allied to the business.
PI Industries is engaged in the business of Agri inputs, Fine Chemicals and (CRAMS) Contract Research and Manufacturing Services), Polymers and Engineering Services. It launched a range of new products in the category of plant nutrients thus further diversifying and enriching our product portfolio. This new category of Water Soluble Fertilizer named PI-NUTRI was launched during second fortnight of June 2008.