Duroply Industries Limited approves fund raising of Rs. 43.90 crores

The Board of Directors of Duroply Industries Limited, has today approved fund raising of upto 43.90 CR by way of preferential issue consisting of upto 11,77,336 (Eleven lakh seventy seven thousand three hundred thirty six) fully paid-up equity shares of the Company and 9,85,220 (Nine lakh eighty five thousand two hundred and twenty) warrants, each carrying a right to subscribe to 1 equity share of the Company, subject to approval of the shareholders of the Company and such other regulatory / governmental approvals as required.

In addition, on 13th February, 2024, the Board of Directors approved change in designation of Mr. Sudeep Chitlangia from "Managing Director" to "Executive Chairman" of the Company w.e.f. April 1, 2024 for a period of three years. The Board had also approved, change in designation of Mr. Akhilesh Chitlangia from "Executive Director & COO" to "Managing Director & CEO" w.e.f April 1, 2024 for a period of 3 years.

The Company is holding an Extra Ordinary General Meeting on Saturday, 9th March, 2024 to approve these Board approved proposals.

Shares of Duroply Industries Ltd was last trading in BSE at Rs. 263.55 as compared to the previous close of Rs. 244.80. The total number of shares traded during the day was 127465 in over 1043 trades.

The stock hit an intraday high of Rs. 269.90 and intraday low of 207.20. The net turnover during the day was Rs. 31286475.00.

Source : Equity Bulls

Keywords

DuroplyIndustries INE932D01010 PreferentialIssue FundRaising EquityShares ConvertibleWarrants