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The stock of Camlin Fine Sciences hit the 10 per cent upper circuit on Friday at ₹53.35 on the BSE after its board gave the nod to raise funds. In a notice to the stock exchanges, the company said the funds would be raised from Infinity Holdings and Infinity Direct Holdings through issue of warrants convertible into an equivalent number of equity shares on preferential basis.
It would issue up to 3.55 crore warrants at an exercise price not lower than the price determined in accordance with SEBI regulation. An amount equivalent to one-third of the total consideration should be paid by investors at the time of subscribing to the warrants. Our Bureau
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