The proposal is subject to shareholders’ approval and regulatory approvals.

The company said its board will consider raising funds on 24 June 2022.

The company plans to raise funds by issuing equity shares and/or other equity linked securities, through permissible mode(s) including but not limited to a private placement, preferential issue, qualified institutions placement, further public offer, etc., or any combination thereof.

Fineotex Chemical is a specialty chemicals manufacturer that caters to multiple sectors such as textile, home care, hygiene, mining, garment, water treatment, leather, construction, paint, agrochemicals and adhesives.

The company reported 47.2% increase in consolidated net profit to Rs 16.52 crore on a 61.8% rise in net sales to Rs 121.39 crore in Q4 FY22 over Q4 FY21.

Shares of Fineotex Chemical fell 0.95% to Rs 162.45 on Monday.

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Leave a Reply

Your email address will not be published.