GRP shines on planning to raise funds
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GRP is currently trading at Rs. 3873.00, up by 124.65 points or 3.33% from its previous closing of Rs. 3748.35 on the BSE.
The scrip opened at Rs. 3873.00 and has touched a high and low of Rs. 3873.00 and Rs. 3873.00 respectively. So far 1 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 4200.00 on 30-Aug-2023 and a 52 week low of Rs. 1752.40 on 07-Nov-2022.
Last one week high and low of the scrip stood at Rs. 4100.00 and Rs. 3585.00 respectively. The current market cap of the company is Rs. 499.78 crore.
The promoters holding in the company stood at 40.41%, while Non-Institutions held 59.59% stake in the company.
GRP is planning to raise funds by way of equity shares or other securities through rights issue, qualified institutional placement, preferential issue or any other method as may be permitted under the applicable law, subject to such regulatory/statutory approvals as may be required. The meeting of the Board of Directors of the Company is scheduled on October 31, 2023, inter alia, to consider and approve the same.
GRP is among the most recognized manufacturer of reclaimed rubber from used tyres, upscaled polyamide from nylon waste and engineered products die-cut from end-of- life tyres.
