Tinna Rubber and Infrastructure Successfully Raises Rs. 78.70 Crores Equity Capital Through Qualified Institutions Placement
Tinna Rubber and Infrastructure Limited, a leading End of Life Tyres recycling company, has successfully completed its Qualified Institutions Placement (QIP) and raised Rs. 78.70 crores by issuing approximately 8.86 lakh equity shares to Qualified Institutional Buyers (QIB). The offering witnessed participation from reputed long-only institutional investors like ICICI Prudential Mutual Fund, JM Financial Mutual Fund, and Bank of India Mutual Fund. The proceeds of the fund raised through QIP will be utilized for funding capital expenditure for expansion and upgradation, repayment of certain borrowings, and general corporate purposes. This demonstrates the Company’s executional strength in rubber recycling, strong corporate governance, and long-term strategic vision.
Key Highlights
- Tinna Rubber and Infrastructure Limited raised Rs. 78.70 crores through Qualified Institutions Placement (QIP)
- The QIP garnered interest from long-only investors, reflecting the company’s strong financial performance, positive outlook, and significant growth potential
- The proceeds of the fund raised through QIP will be utilized for funding capital expenditure for expansion and upgradation, repayment of certain borrowings, and general corporate purposes
- The QIP witnessed participation from reputed long-only institutional investors like ICICI Prudential Mutual Fund, JM Financial Mutual Fund, and Bank of India Mutual Fund
- This demonstrates the Company’s executional strength in rubber recycling, strong corporate governance, and long-term strategic vision