Vipul Organics announces Rights Issue
Vipul Organics, the BSE listed (VIPULORG / 530627) Specialty Chemicals company in the pigments and dyes segment, has announced their rights issue, after the meeting of the Rights Issue Committee. Vipul Organics will offer 1 share for every 3 shares held on record date at a premium of Rs 44 for the share of face value Rs 10 (total price Rs 54) The rights issue will not exceed the size of Rs 25-crore.
14 Oct 2024 | By Rahul Kumar
The company is investing significantly in the expansion of its capacity
“The company has undertaken substantial capacity expansion and has decided to do a rights issue to mobilise funds. To reward our shareholders and to include them in the growth of the company, the issue price is at a substantial discount to the current market price”, said Vipul P Shah, managing director, Vipul Organics.
The company is investing significantly in the expansion of its capacity. It has just concluded its capacity expansion at its Ambernath facility. Construction is on full steam at its greenfield facility at Sayakha. The funds raised will be utilized to ensure the development of the Sayakha facility, and production will begin in a phased manner from the first quarter of 2025-2026.
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