NACL to raise ₹115 crore via eq­uity is­sue

The Hindu - - BUSINESS - Spe­cial Cor­re­spon­dent

NACL In­dus­tries Ltd (for­merly known as Na­gar­juna Agrichem Ltd.) will raise about ₹115 crore through is­sue of eq­uity and eq­uity war­rants. The funds will be used to fi­nance growth plans in the do­mes­tic and ex­port mar­kets.

Kr­ishi Rasayan Group, the in­com­ing in­vestor, will hold around 16% of the eq­uity of NACL upon com­ple­tion of in­fu­sion of funds. The pro­mot­ers are also in­vest­ing ₹15 crore through eq­uity war­rants. Post the is­sue, the pro­mot­ers will con­tinue to have con­trol­ling in­ter­est by hold­ing around 63% of the eq­uity. There will be no change in the man­age­ment of NACL that would con­tinue to be run by pro­fes­sional man­agers.

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