Borosil Renewables trades higher on planning to raise funds through various modes

Borosil Renewables is currently trading at Rs. 653.95, up by 11.55 points or 1.80% from its previous closing of Rs. 642.40 on the BSE.

Borosil Renewables
Borosil Renewables

The scrip opened at Rs. 637.20 and has touched a high and low of Rs. 658.75 and Rs. 637.20 respectively. So far 32364 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 833.00 on 25-Apr-2022 and a 52 week low of Rs. 268.00 on 13-Jul-2021.

Last one week high and low of the scrip stood at Rs. 658.75 and Rs. 603.05 respectively. The current market cap of the company is Rs. 8452.10 crore.

The promoters holding in the company stood at 61.69%, while Institutions and Non-Institutions held 4.85% and 33.46% respectively.

Borosil Renewables is planning to raise funds by the way of public offer, issuance of American Depository Receipts or Global Depository Receipts, issuance of Foreign Currency Convertible Bonds, qualified institutions placement or through a combination thereof, as may be considered appropriate, subject to requisite approvals including approval of the shareholders of the Company and requisite government/regulatory/statutory approvals, each as applicable.

A meeting of the Board of Directors of the Company is scheduled to be held on July 14, 2022, inter alia, to consider the same.

Borosil Renewables is engaged in the manufacturing of low-iron-textured solar glass for applications in photovoltaic panels, flat-plate collectors, and greenhouses and is the first and only solar glass manufacturer in India.

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