Feedback

Kshitij Polyline Ltd. Successfully Completes Rights Issue with 97.75% Subscription

Kshitij Polyline Ltd. (KSHITIJPOL), a leading manufacturer of world-class plastic products, announced the successful completion of its rights issue. The company has finalized the allotment of 38,348,146 fully paid-up equity shares, each with a face value of Rs. 2.00, at a price of Rs. 6.40 per share. This includes a premium of Rs. 4.40 per share.

The rights issue, which aimed to raise additional capital for the company's growth and expansion plans, saw a strong response from shareholders, with a 97.75% subscription rate. The company raised a total of Rs. 2,454.28 lakhs through the issue.

Key Highlights:

• Issue Size: 40,521,864 shares
• Issue Subscribed: 39,609,931 shares (97.75%)
• Allotted Shares: 38,348,146 shares
• Issue Price: Rs. 6.40 per share (Rs. 2.00 face value + Rs. 4.40 premium)
• Total Amount Raised: Rs. 2,454.28 lakhs

Following the allotment, the paid-up equity share capital of the company has increased to 89,000,476 shares with a face value of Rs. 2.00 each.

About Kshitij Polyline Ltd.:

Kshitij Polyline Ltd. is engaged in the manufacturing of a wide range of plastic products, including pipes, fittings, and other industrial components. The company caters to various sectors, including agriculture, infrastructure, and construction.