Quarterly Result15 Feb 2025, 03:30 am
Niraj Cement Structurals Ltd. Lowers Issue Size Due to Undersubscription
AI Summary
Niraj Cement Structurals Ltd. has lowered its issue size from Rs. 132.77 crore to Rs. 103.56 crore due to undersubscription. The issue was for 1,25,50,000 shares and 1,25,00,000 convertible warrants, but only 83,19,040 shares and 1,12,20,000 convertible warrants were allotted. The allotment was done in two tranches, with the first tranche on December 25, 2024, and the second on January 01, 2025. The company has received approvals from NSE and BSE, and the utilization of proceeds is towards meeting working capital requirements and general corporate purposes, in line with the objects of the issue.
Key Highlights
- Niraj Cement Structurals Ltd. lowers its issue size from Rs. 132.77 crore to Rs. 103.56 crore due to undersubscription.
- The issue was for 1,25,50,000 shares and 1,25,00,000 convertible warrants, but only 83,19,040 shares and 1,12,20,000 convertible warrants were allotted.
- The allotment was done in two tranches, with the first tranche on December 25, 2024, and the second on January 01, 2025.
- The company has received approvals from NSE and BSE.
- The utilization of proceeds is towards meeting working capital requirements and general corporate purposes, in line with the objects of the issue.