Vipul Organics rose 4.45% to Rs 204.15 after the company's board recommended bonus issue of shares in the ratio of 1:4.
The company proposes to issue 1 new fully paid-up equity share for every 4 fully paid-up equity shares held. The record date for the bonus issue is set on 9 April 2022.Further, the board allotted 3,34,000 equity shares at an issue price Rs 111 each upon conversion of 3,34,000 warrants issued on preferential basis.
Vipul Organics is one of the largest manufacturers of pigments and pigment dispersions in the country. It serves clients across broad spectrum of industries ranging from textile, paint, printing ink, cosmetics & food industry, plastic and several other industries and has presence in both local and international market.
On a consolidated basis, net profit of Vipul Organics declined 29.44% to Rs 1.51 crore on 2.55% decline in net sales to Rs 30.90 crore in Q3 December 2021 over Q3 December 2020.
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