Eco Recycling was locked in upper circuit of 5% at Rs 1,043.15 after its board approved fund raising proposal through issuance of equity shares through qualified institution placement (QIP) for an aggregate amount not exceeding Rs 500 crore.
The proposal for fund raising is subject to regulatory/statutory approvals as may be required.Further, the board has constituted and authorised the fund raising committee of the board to decide the structure, form of issuance, price, discounts, terms and conditions thereof, and all other matters related thereto.
Eco Recycling is primarily involved in e-waste collection, disposal and recycling business that offers comprehensive services for recycling of electrical electronic equipment (EEE) waste.
The companys consolidated net profit jumped 40.4% to Rs 8.20 crore on 81.3% surge in net sales to Rs 12.87 crore in Q2 FY25 over Q2 FY24.
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