Balaji Speciality Chemicals Ltd to raise funds through IPO

The Board of Directors of Balaji Amines Limited's material subsidiary, Balaji Speciality Chemicals Limited ("BSCL") in their meeting held today i.e. 1st June, 2022 has approved fund raising, subject to receipt of requisite approvals including approval of the shareholders, market conditions and other considerations, by way of an initial public offer of its Equity Shares comprising of fresh issue of Equity Shares aggregating up to Rs. 2,500.00 Million (including share premium) and / or an offer of sale of Equity Shares by certain existing and eligible shareholders of the Company, in accordance with the Companies Áct, 2013 and the rules made thereunder (" Companies Act"), the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended and other applicable laws (the "Offer").

The Company, as a shareholder, shall consider and finalize its participation in the aforesaid proposed Offer of BSCL and the terms and conditions of such participation and the matters incidental thereto.

Shares of Balaji Amines Limited was last trading in BSE at Rs. 3252.55 as compared to the previous close of Rs. 3211.40. The total number of shares traded during the day was 6016 in over 1604 trades.

The stock hit an intraday high of Rs. 3333.00 and intraday low of 3225.05. The net turnover during the day was Rs. 19722343.00.

Source : Equity Bulls

Keywords

BalajiAmines INE050E01027 BalajiSpecialityChemicals IPO FundRaising