SRF has infused additional Equity Share Capital in the Wholly Owned Subsidiary ‘SRF Altech’. Pursuant to a Rights Issue made by SRF Altech, the Company had subscribed to 35,50,00,000 fully paid up equity shares of Rs 10 each in cash for an aggregate consideration of Rs 355 crore. This represents 100% of the issue size.
The infusion of funds by way of equity shall be utilized to repay the existing debt of the Wholly Owned Subsidiary without impacting overall projected debt levels for SRF on a consolidated basis.
SRF is a leader in refrigerants, engineering plastics and industrial yarns in India. The company also manufactures polyester films and fluoro specialties. Besides India, SRF has a presence in Dubai, South Africa and Thailand.
