Kiri Dyes and Chemicals today said it will raise up to Rs 150 crore through issue of securities in the domestic and international markets for expanding its business operations.
In a filing to the Bombay Stock Exchange, the company said its board will consider and approve to raise up to Rs 150 crore via qualified institutional placement, preferential allotment and foreign currency convertible bonds .
The amount would be utilised to part finance the expansion and diversification projects of the company.
Shares of the company surged 11.30 per cent at Rs 227.10 in the afternoon trade on the BSE.