CALCULATE YOUR SIP RETURNS

Yasho Industries to Issue ₹125 Crore Equity Shares on Preferential Basis

Updated on: Dec 19, 2024, 3:34 PM IST
Yasho Industries Ltd plans to issue 657,895 equity shares on a preferential basis at ₹1,900 per share, raising ₹125 crore.
Yasho Industries to Issue ₹125 Crore Equity Shares on Preferential Basis
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

Yasho Industries Ltd, a prominent Mumbai-based manufacturer of performance chemicals, has announced a major fundraising initiative. The company’s Board of Directors has approved a preferential equity issuance worth ₹125 crore, reflecting its strategic efforts to expand its operations and attract institutional investors. Since 1993, Yasho has been producing specialty chemicals for diverse industries, including rubber, food, flavours, perfumery, and lubricants.

Board Approves ₹125 Crore Equity Issuance

In its latest Board meeting, Yasho Industries sanctioned the issuance of 657,895 fully paid-up equity shares at ₹1,900 per share, including a premium of ₹1,890. The total value of this preferential allotment amounts to ₹125 crore. The shares will be allocated to three key investors: Malabar India Fund Limited, Ashoka India Equity Investment Trust PLC, and WhiteOak Capital ELSS Tax Saver Mutual Fund.

The allotment is subject to shareholder approval and regulatory clearances. To facilitate this, the company will hold an Extraordinary General Meeting (EGM), with the notice and remote e-voting details to be released soon. The National Securities Depository Limited (NSDL) will oversee the e-voting process.

Yasho Industries Share Performance

As of December 19, 2024, 2:15 PM, the shares of Yasho Industries are trading at ₹2,141.65 per share with a surge of 4.46% from its previous day’s closing price. Over the last month, the stock has seen a surge of 26.5%. While over the year the stock has surged by 33.89% the stock has a 52-week high and 52-week low of ₹2,418.00 per share and ₹1,514.05 per share respectively.

Conclusion

Yasho Industries has approved the preferential allotment of equity shares, which will be subject to shareholder and regulatory approvals. The company is proceeding with the required formalities.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Published on: Dec 19, 2024, 3:34 PM IST

We're Live on WhatsApp! Join our channel for market insights & updates

Open Free Demat Account!

Join our 2.5 Cr+ happy customers

+91
Enjoy Zero Brokerage on Equity Delivery
4.4 Cr+DOWNLOADS
Enjoy ₹0 Account Opening Charges

Get the link to download the App

Get it on Google PlayDownload on the App Store
Open Free Demat Account!
Join our 2.5 Cr+ happy customers