Fineotex Chemical announced the successful fund raising of Rs 342.5 crore through a preferential allotment of equity shares and convertible warrants.
Commenting on the fund raise Sanjay Tibrewala, CFO and Executive Director, Fineotex Chemical, said: This preferential allotment aligns with the initial tranche of our fund raised on May 22, 2024, amounting to INR 124.4 Crores. The cumulative funds raised from both tranches now total INR 342.6 Crores. As of today, Fineotex has received INR 192.6 Crores equity allotment and warrant subscriptions. The capital raised will be invested strategically to support both organic and inorganic growth opportunities, reinforcing our commitment to enhancing shareholder value and advancing operational excellence
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