Mitsu Chem Plast moves up on filing Rs 125 crore FPO papers with SEBI
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Mitsu Chem Plast is currently trading at Rs. 272.50, up by 2.05 points or 0.76% from its previous closing of Rs. 270.45 on the BSE.
The scrip opened at Rs. 276.50 and has touched a high and low of Rs. 277.75 and Rs. 267.45 respectively. So far 3996 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 374.70 on 13-Jan-2022 and a 52 week low of Rs. 225.00 on 20-Dec-2021.
Last one week high and low of the scrip stood at Rs. 277.75 and Rs. 260.30 respectively. The current market cap of the company is Rs. 328.98 crore.
The promoters holding in the company stood at 73.03%, while Institutions and Non-Institutions held 1.81% and 25.17% respectively.
Mitsu Chem Plast has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise up to Rs 125 crore through a follow-on public offer (FPO).
Proceeds from the issue will be used to repay debt, fund the working capital requirements of the company and for general corporate purposes. IDBI Capital Markets & Securities is the sole book running lead manager to the issue.
Mitsu Chem Plast is a packaging solutions provider engaged in the business of manufacturing polymer-based molded products mainly used for industrial packaging for industries like chemicals, agrochemicals, pharmaceuticals, lubricants, food and edible oil.
