Sanghi Industries announced that its board has approved fund raising through issuance of non-convertible preference shares aggregating up to Rs 2,200 crore in one or more tranches.
The company will issue 220 crore non-convertible cumulative redeemable preference shares with face value Rs 10 each at par, aggregating upto Rs 2,200 crore on private placement basis.Sanghi Industries is engaged in the manufacturing and marketing of cement and cement products in domestic and export market.
The company reported a consolidated net loss of Rs 142.73 crore in Q3 FY24 as compared with net loss of Rs 143.95 crore recorded in Q3 FY23. Revenue from operations jumped 42.2% YoY to Rs 188.73 crore in Q3 FY24.
The scrip rose 0.82% to trade at Rs 94.85 on the BSE.
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