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Company news: NACL Industries

| Updated on February 11, 2019 Published on February 11, 2019

The board of NACL Industries has recommended raising about ₹115 crore from Krishi Rasayan group and from its promoter. The fund infusion would be through issue of equity and equity warrants (exercisable in 12 months), to an incoming investor and the existing promoter. While Krishi Rasayan group will hold around 16 per cent equity in NACL, the promoters are also investing ₹15 crore through equity warrants. Post issue, the promoters will continue to have controlling interest by holding around 63 per cent of the equity. The funds will be used to finance its growth plans in the domestic and export markets. There will be no change in the management of NACL and will continue to be run by professional managers, it said. Shares of the company slumped 12.59 per cent at ₹29.50 on the BSE.

Published on February 11, 2019
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