Fineotex Chemical moves up on planning to raise funds through various modes

Fineotex Chemical is currently trading at Rs. 164.60, up by 2.15 points or 1.32% from its previous closing of Rs. 162.45 on the BSE.

Fineotex Chemical
Fineotex Chemical

The scrip opened at Rs. 165.00 and has touched a high and low of Rs. 169.00 and Rs. 163.95 respectively. So far 9450 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 235.25 on 20-Apr-2022 and a 52 week low of Rs. 84.85 on 01-Jul-2021.

Last one week high and low of the scrip stood at Rs. 174.25 and Rs. 159.35 respectively. The current market cap of the company is Rs. 1841.19 crore.

The promoters holding in the company stood at 64.82%, while Institutions and Non-Institutions held 6.40% and 28.78% respectively.

Fineotex Chemical is planning to raise funds through issue of equity shares and/or other equity linked securities, through permissible modes including but not limited to a private placement, preferential issue, qualified institutions placement, further public offer, etc., or any combination thereof, subject to shareholders’ approval and regulatory and other approvals as may be required. A meeting of the Board of Fineotex Chemical is scheduled to be held on June 24, 2022, to consider the same.

Fineotex Chemical manufactures specialty chemicals consumed by textile and garment industry, leather, construction, adhesives paper, water treatment, agrochemicals, paint and other industries.

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