Fineotex Chemical trades higher on getting nod to raise Rs 200 crore through various modes
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Fineotex Chemical is currently trading at Rs. 181.35, up by 8.70 points or 5.04% from its previous closing of Rs. 172.65 on the BSE.
The scrip opened at Rs. 175.80 and has touched a high and low of Rs. 185.05 and Rs. 174.75 respectively. So far 29276 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 235.25 on 20-Apr-2022 and a 52 week low of Rs. 84.85 on 01-Jul-2021.
Last one week high and low of the scrip stood at Rs. 175.85 and Rs. 159.35 respectively. The current market cap of the company is Rs. 2015.07 crore.
The promoters holding in the company stood at 64.82%, while Institutions and Non-Institutions held 6.40% and 28.78% respectively.
Fineotex Chemical has received approval for raising up to Rs 200 crore, in one or more tranches, on such terms and conditions as it may deem fit, by way of issuance of Securities, through one or more permissible mode including but not limited to a private placement, preferential issue, qualified institutions placement, follow-on public offering or a combination thereof, subject to shareholders' approval and regulatory and other approvals, as may be required under applicable law. The board of directors at its meeting held on June 24, 2022 has approved the same.
Fineotex Chemical manufactures specialty chemicals consumed by textile and garment industry, leather, construction, adhesives paper, water treatment, agrochemicals, paint and other industries.
