Vinati Organics soars on subscribing to additional shares in Veeral Organics
Vinati Organics is currently trading at Rs. 1894.00, up by 62.20 points or 3.40% from its previous closing of Rs. 1831.80 on the BSE.
The scrip opened at Rs. 1840.00 and has touched a high and low of Rs. 1894.00 and Rs. 1838.35 respectively. So far 4993 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2372.95 on 12-Sep-2022 and a 52 week low of Rs. 1693.05 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1894.00 and Rs. 1801.05 respectively. The current market cap of the company is Rs. 19333.30 crore.
The promoters holding in the company stood at 74.06%, while Institutions and Non-Institutions held 12.58% and 13.36% respectively.
Vinati Organics has subscribed to the additional 1,00,95,000 fully paid-up equity shares of the face value of Rs 10 each at par, amounting to Rs 10.09 crore by way of subscription towards the rights issue of Veeral Organics, a wholly owned subsidiary, the shares rank pari-passu to existing equity shares of the company. The main business object of Veeral Organics is the manufacturing of Organics Fine Specialty Chemicals which is in line with the business of Vinati Organics.
Vinati Organics, Established in 1989, is a specialty chemical company, focusing on manufacturing specialty chemicals and organic intermediaries.
