Captain Polyplast plans to Raise Funds via Preferential Warrants

Captain Polyplast Limited (CPL, BSE: 536974), one of the leading providers of irrigation solutions, has announced a preferential issue of 48,00,000 convertible warrants at a price of ₹72 each to support its growth and operational expansion. The total funds raised through this initiative amount to ₹34.56 crore, with ₹20.88 crore contributed by the promoters through 29,00,000 warrants.

Commenting on the performance Mr. Ritesh Khichadia, a Whole Time Director of Captain Polyplast Limited said, "We are pleased to announce the strategic preferential issue of 48,00,000 convertible warrants, a significant step toward enhancing our operational framework and driving sustainable growth.. This initiative reflects our commitment to operational excellence and our focus on innovation in delivering high-quality irrigation solutions.

This strategic move aligns with our vision of empowering sustainable agriculture through cutting-edge solutions. By optimizing resources and upgrading infrastructure, we aim to enhance our market presence, support agricultural productivity, and contribute to water conservation efforts. With this infusion of capital, we are well-positioned to enhance customer satisfaction, meet evolving market needs, and create lasting value for our stakeholders."

Shares of Captain Polyplast Ltd was last trading in BSE at Rs. 67.05 as compared to the previous close of Rs. 67.16. The total number of shares traded during the day was 33446 in over 285 trades.

The stock hit an intraday high of Rs. 68.13 and intraday low of 66.16. The net turnover during the day was Rs. 2248234.00.

Source : Equity Bulls

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