Board of Shree Pushkar Chemicals & Fertilizers approves fund raising up to Rs 15 crore

The Board of Shree Pushkar Chemicals & Fertilizers has approved to raise funds by issuance and allotment of warrants on preferential basis, with each Warrant convertible into one equity share of Rs. 10 each within a period of 18 months from the date of allotment of warrants, for cash, at an exercise price of Rs. 208.10 per Warrant (including a premium of Rs. 198.10 per Warrant) aggregating up to Rs. 15 crore to the promoters of the company. The issuance is subject to shareholders approval at the forthcoming Annual General Meeting.

The current shareholding of the Promoters and Promoter Group stands at 63%. The money would be utilized by the company for the upcoming Capex of Rs. 75+ crore.

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