“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.