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.
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.
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.
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
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