HLE Glascoat rose 0.93% to Rs 3,451.10 after the company's board approved 5-for-1 stock split and fundraising of upto Rs 350 crore.
The board of HLE Glascoat on 6 June 2022 approved the sub-division/ split of existing 1 equity share of face value Rs 10 each, fully paid up into 5 equity shares of Rs 2 each.
Further, the board also approved raising upto 350 crore by issuing equity shares or any other instruments convertible into equity shares or any other eligible securities through qualified institutions placement, private placement/ public issue of equity, preferential issue or through any other permissible mode and/ or combination thereof as may be considered appropriate.
HLE Glascoat is a leading manufacturer of process equipment for the chemical and pharmaceutical industries. On a consolidated basis, net profit of HLE Glascoat rose 30.22% to Rs 23.31 crore on 68.97% rise in net sales to Rs 249.23 crore in Q4 FY22 over Q4 FY21.
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