The Hindu Business Line : 2019-02-11
NEWS : 16 : 16
CHENNAI NEWS 16 BusinessLine MONDAY FEBRUARY 11 2019 • • WX NACL Industries to raise ₹115 cr via equity warrants will hold around 16 per cent of the equity of NACL upon completion of infusion. The promoters will also invest ₹15 crore through equity warrants.
Post the issue, the promoters will continue to have controlling interest by holding around 63 per cent of the equity.
For the third quarter ended December 31, 2018, the company’s net profit remained flat at ₹1.42 crore. The total revenue grew by seven per cent at ₹201 crore compared to ₹188 crore in the same quarter last year. OUR BUREAU Hyderabad, February 10 NACL Industries Ltd will raise₹115 crore through issue of equity and equity warrants.
The NACL board approved a proposal to finance the growth plans of the company in the domestic and export markets. The company will seek shareholders’ approval in March.
The infusion of equity will be through issue of equity and equity warrants (exercisable within 12 months), to an incoming investor and the existing promoter. The incoming investor, Krishi Rasayan Group, WX
© PressReader. All rights reserved.