Pondy Oxides & Chemicals gains on getting nod to raise funds up to Rs 250 crore
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Pondy Oxides & Chemicals is currently trading at Rs. 2053.45, up by 19.70 points or 0.97% from its previous closing of Rs. 2033.75 on the BSE.
The scrip opened at Rs. 2105.25 and has touched a high and low of Rs. 2130.00 and Rs. 2051.25 respectively. So far 3893 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 2382.05 on 05-Sep-2024 and a 52 week low of Rs. 393.00 on 27-Dec-2023.
Last one week high and low of the scrip stood at Rs. 2221.80 and Rs. 2009.20 respectively. The current market cap of the company is Rs. 2602.21 crore.
The promoters holding in the company stood at 45.14%, while Institutions and Non-Institutions held 0.02% and 54.84% respectively.
Pondy Oxides & Chemicals (POCL) has received approval for raising of funds by way of issuance of equity shares and / or any other eligible securities of the Company, in one or more tranches, through Qualified Institutional Placement (QIP) in accordance with the provisions of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended from time to time (SEBI ICDR Regulations), and other applicable law, to such investors that may be permitted to invest in such issuance of securities, in such manner and on such price, terms and conditions, in accordance with the SEBI ICDR Regulations, applicable provisions of the Companies Act, 2013 and Rules made thereunder, as amended in each case, for an aggregate amount not exceeding Rs 250 crore, at such time and interval as may be decided by the Board or a duly constituted committee thereof, subject to such regulatory/ statutory approvals as may be required, including the approval of the Shareholders of the Company. The Board of Directors in their meeting held on September 23, 2024, had inter-alia approved the same.
Pondy Oxides & Chemicals (POCL) the leading Secondary Lead Smelter in India. POCL produces the highest quality lead and lead alloys and PVC additives which are supplied to its customers who are mainly battery manufacturers, chemical manufacturers and PVC extruded and moulded products.
