Mayur Uniquoters is planning to raise up to Rs 70 crore in private equity (PE) from WestBridge Capital. The purpose for raising the capital is to augment the resources of the company for general corporate and capital expansion purposes, including setting up a PU Plant, and other such purposes permitted by applicable law and approved by the board of directors.
The Jaipur-based company plans to raise the amount through a preferential allotment wherein the PE firm will acquire 1,486,000 compulsorily convertible participating preference shares at Rs 471.06 a share.
Mayur Uniquoters is a textile company engaged in manufacturing and export of artificial leather and poly vinyl chloride.
