Gravita India approved raising funds worth Rs 300 crore through issuance of equity shares or any other equity linked securities, by way of one or more of the permissible modes including but not limited to preferential issue, private placement & QIP.
The board of Gravita India, on Monday, 10 Janaury 2022, also approved the increasing of authorised share capital of the company to Rs 17 crore divided into 8,50,00,000 equity shares Rs 2 each from Rs 15 crore divided into 7,50,00,000 equity shares of Rs 2 each.
On a consolidated basis, net profit of Gravita India rose 221.30% to Rs 36.95 crore on 61.03% rise in net sales to Rs 546.49 crore in Q2 September 2021 over Q2 September 2020.
Shares of Gravita India declined 2.34% to Rs 319.05 on BSE. Gravita India is a leader in integrated operations of non-ferrous metalsand plastics having recycling, manufacturing and turnkey business in Asia, Africa and South America.
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