Borosil Renewables Ltd Board approves Rights Issue of equity shares

The Board of Directors of Borosil Renewables Ltd at their meeting held today i.e. May 12, 2021 has also passed an enabling resolution for raising of capital by way of the offer and issuance of equity shares of the Company for an amount not exceeding Rs. 100 Crore (Rupees One Hundred Crore) by way of a rights issue to the eligible equity shareholders of the Company, in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, subject to such approvals, as may be required under the applicable laws ("Rights Issue"), for part financing the installation of the first phase of expansion plan in the form of additional manufacturing facility (SG - 4) with a capacity of upto 500 Tonnes Per Day (TPD) at its existing location in Bharuch, Gujarat.

Shares of Borosil Renewables Ltd. was last trading in BSE at Rs.259.2 as compared to the previous close of Rs. 266.3. The total number of shares traded during the day was 111088 in over 4678 trades.

The stock hit an intraday high of Rs. 272 and intraday low of 254.3. The net turnover during the day was Rs. 29141080.

Source : Equity Bulls

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