Shaily Engineering Plastics Ltd has informed that the Board of Directors of the Company has considered and approved raising of funds to an amount aggregating upto Rs300cr, in one or more tranches, on such terms and conditions as it may deem fit, by way of issuance of securities, through one or more permissible mode(s) including but not limited through a Qualified Institutions Placement//Preferential Offer or a combination thereof, subject to shareholder's enabling approval for the purpose of funding future capex requirements and general corporate requirements.
The current market cap of the company is Rs1,290.19cr.
On Monday early morning trade, Shaily Engineering Plastics was trading at Rs1582.05 per piece higher by 2% on Sensex.
Previously, the scrip ended at Rs1,551 per piece on Sensex.