Chemplast Sanmar said that its board will meet on 24 June 2024 to consider raising funds by way of issuance of eligible securities through various modes.
The companys board will meet to consider and approve, inter alia, raising of funds by way of further issue of equity shares, and/or any other securities convertible into equity shares (including warrants or otherwise) and/or any other eligible securities of the company, through preferential allotment or rights issue or private placement, including a Qualified Institutions Placement or any other permissible mode.Chemplast Sanmar is a major manufacturer of specialty chemicals such as specialty paste PVC resin and custom manufactured chemicals for agro-chemical, pharmaceutical and fine chemicals sector. The company also produces other chemicals such as caustic soda, chloromethane products, hydrogen peroxide and refrigerant gas.
The company reported consolidated net loss of Rs 31.13 crore in Q4 FY24 as compared with net profit of Rs 46.08 crore in Q4 FY23. Revenue from operations fell 8.4% YoY to Rs 1,050.72 crore in Q4 FY24.
The counter declined 1.99% to end at Rs 580.60 on Wednesday, 19 June 2024.
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