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The board has approved the execution of an investment agreement between the company and Invati Creations and their shareholders.
Further, the company’s board has approved the issuance of 7.96 lakh fully paid-up equity shares of the company to the existing shareholders of Invati Creations at a price of Rs 316 per equity share.
Besides, the board has also approved the issuance of 1.08 crore convertible warrants at a price of Rs 316, aggregating to Rs 343 crore by way of preferential issue.
Himadri Speciality Chemical is primarily engaged in the manufacturing of carbon materials and chemicals. The Company has operations in India and caters to both domestic and international markets.
The company’s consolidated net profit jumped 66.92% to Rs 108.82 crore on 1.45% rise in net sales to Rs 1,052.51 crore in Q3 FY24 over Q3 FY23.
The scrip rose 0.14% to currently trade at Rs 319 on the BSE.
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