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Greenply Industries plans to raise up to Rs 100 crore through various instruments including issuance of equity shares, convertible bonds and debentures via qualified institutional placement (QIP).
The company’s board today approved and recommended for approval by shareholders through postal ballot to raise an amount not exceeding Rs 100 crore through issue of equity shares, convertible bonds/debentures through QIP and/or depository receipts and/or any other modes, Greenply Industries said in a BSE filing.
It has also constituted a ‘QIP Committee’ of the board of directors for this purpose, it added.
Greenply Industries has four manufacturing facilities for plywood and one facility for Medium-density Fibreboard (MDF) in the country. It has presence in over 300 cities across 21 states.
Greenply Industries shares were trading 0.62 per cent down at Rs 240.20 on BSE during the afternoon session.
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