Rajoo Engineers has launched its qualified institutional placement (QIP) issue to raise Rs 180 crore. Its board has approved the opening of the issue of qualified institutional placement of equity shares with a floor price of Rs 114.42 per equity share from July 15. The issue closes on July 21. The company may offer a discount of not more than 5 per cent on the floor price for the issue.
The proceeds of up to Rs 160 crore from the QIP will be strategically deployed for the business expansion through inorganic growth and the remaining proceeds towards general corporate purposes.
Rajoo Engineers is leading manufacturer and supplier of supreme quality FOILEX- Monolayer Blown Film Lines, AQUAFLEX - Downward Extrusion Blown Film Lines, MULTIFOIL - Multilayer Blown Film Lines, LAMiNA PS-PP-ABS-rPET-EVA Sheet Lines, etc.
