Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

Grasim Industries Ltd to raise Rs. 4000 crore through rights issue

Posted On: 2023-10-17 07:28:05 (Time Zone: IST)


The board of Grasim Industries Limited today approved the raising of funds not exceeding Rs. 4,000 crore by way of a rights issue to the eligible equity shareholders as on the record date. The proposed rights issuance by Grasim aims to fund the ongoing capital expenditure plan, repay existing borrowings, and support general corporate purposes.

In its transformational growth journey, Grasim is implementing its highest ever capital expenditure plan. The Company has raised debt to part fund the on-going capital expenditure plan and the funds raised by this issue will also be largely used towards growth capex. The capital outlay for the Company to establish itself as India's second largest decorative paints player is on track. Furthermore, the Company is committed to sustaining market leadership in its core businesses Viscose and Chemicals (at Standalone level). The rating agencies continue to reaffirm Grasim's 'AAA' ratings.

The rights issue enables existing shareholders to participate in Grasim's growth journey. The Promoters and Promoter Group have confirmed their participation. They will fully subscribe to their rights entitlement and also to the unsubscribed portion, if any, demonstrating their deep conviction in Grasim's growth prospects.

The Board or a duly constituted Committee of the Board would decide the terms and conditions of the Rights Issue and will be subject to applicable laws and regulatory/statutory approvals as may be required. The Company intends to complete the said issue at the earliest, subject to market conditions and other factors, including the receipt of any regulatory approvals.

Shares of Grasim Industries Limited was last trading in BSE at Rs. 1972.00 as compared to the previous close of Rs. 1982.95. The total number of shares traded during the day was 11643 in over 1188 trades.

The stock hit an intraday high of Rs. 1992.15 and intraday low of 1957.40. The net turnover during the day was Rs. 22950488.00.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Infosys and Linux Foundation Networking Collaborate to Strengthen Responsible AI for Global Networks

ITC announces strategic acquisition of Pulp & Paper Undertaking of Aditya Birla Real Estate Limited

AGI Greenpac Ltd approves ~ Rs. 700 crore capex

NHPC Ltd updates on 300 MW Bikaner Solar Power Project

Prashant India Ltd enters into agreement for sale with Shantilon Poly Pvt Ltd

Trent Limited crosses operating portfolio of over 1000 fashion stores

Aditya Birla Capital Limited completes amalgamation of Aditya Birla Finance Limited

Cantabil Retail India Ltd opens 13 new showrooms

Kalpataru Projects International Ltd receives orders worth Rs. 621 crores

HCLTech elevates Public Sector expertise with launch of US subsidiary

India Glycols Limited adds 200 KLPD Ethanol capacity

FY 2024-25: Despite Supply Chain Woes, HAL Registers Revenue of Rs 30,400 Crores, Builds Capacities

Loyal Textile Mills Ltd sells part of its windmill units for Rs. 73.80 crores

Aditya Birla Real Estate Ltd streamlines portfolio - Divests Century Pulp and Paper undertaking for Rs. 3498 Cr

Artefact Projects Limited awarded project worth Rs. 241.63 lakh

Gennova Advances Pathbreaking AI-Enhanced saRNA Vaccine for one of the deadliest known viruses in collaboration with CEPI

Avenue Supermarts Ltd opens 3 new stores, increases store count to 415

Coastal Biotech Pvt Ltd starts trial runs at its Ethanol Plant

Walchandnagar Industries Limited receives contract worth Rs. 30.75 crores

GRSE Records 32 % YoY growth in the FY25

AGI Greenpac Limited to set up new Container Glass Plant in Madhya Pradesh

Triton Valves Limited signs contract with Robert Bosch GmBH

Jyoti Ltd to allot 59,63,636 shares to Rare Asset Reconstruction ltd

Avantel Ltd receives order worth Rs. 11.36 crores

Kohinoor Foods Ltd to sell rice factory for Rs. 190 crores as part of OTS

Aditya Vision Limited opens 4 showrooms at Jharkhand and UP

DCM Shriram Limited commissions new caustic soda flakes plant

Asian Granito India Limited receives IT demand notice

Newgen Software Inc. inks agreement for order worth USD 1,270,000

Blue Jet Healthcare Ltd receives demand notice from IT department for Rs. 1,93,38,55,250/- including interest

LTIMindtree announces strategic partnership with Google Cloud to drive Business Transformation with Agentic AI

NHPC commissions 3 units of Parbati-II HE project

ixigo announces APRIL FULL REFUND SALE for 1st April - 100 Lucky Travellers To Win 100% Refund on Flight Bookings

Engineers India Ltd receives orders worth Rs. 245 crores

Blue Star appoints Mohit Sud as Group President, Unitary Cooling Products

Jyoti Ltd receives Rs. 108.17 crores IT demand notice for AY 2020-21

HBL Engineering Limited receives Kavach contracts worth Rs. 762.56 crores

SPARC announces submission of IND Application for SBO-154 to USFDA

Hon'ble PM Shri Narendra Modi visits Solar Defence and Aerospace Ltd's facilities

Avenue Supermarts Ltd's store count increases to 412, opens 4 new stores today

Tera Software Ltd receives LOIs worth Rs. 273.2 crores from MVVNL

JSW Steel Ltd declared successful bidder by BCCL in the auction of Dugda Coal Washery in the State of Jharkhand

IRM Energy Ltd secures 5-Year RLNG supply agreement with Gujarat State Petroleum Corporation Limited

Uno Minda Strengthens Governance, appoints Ravi Mehra as Managing Director, and Expands Board Expertise

Manoj Vaibhav Gems 'N' Jewellers Ltd opens new Jewellery store at Narsipatnam

Income Tax Authority imposes penalty of Rs. 944.20 crore on InterGlobe Aviation Limited

Tejas Networks Ltd receives Rs. 189.1657 crore under PLI scheme

Nitco Ltd expects Rs. 100 crores on receipt of property from development of Leasehold Rights

Fusion Finance Limited fixes April 4, 2025 as record date for 55:91 rights issue

JM Financial Limited invests in rights issue of JM Financial Asset Management Ltd


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020