Ramkrishna Forging board to mull fund raising on 27 Aug

Ramkrishna Forgings said that its board will meet on Friday, 27 August 2021, to consider fund raising plans.

The funds would be raised via issue of bonds/ debentures/ non-convertible debt instruments/ equity shares/ warrants/ any other securities, including through preferential issue on a private placement basis, qualified institutional placement or any other methods or combination thereof, subject to approvals from the shareholders, stock exchanges and other regulatory/ governmental authorities, as may be required.

On the same day, the board shall also fix the date and time of the 39th annual general meeting (AGM) of the company.

Ramkrishna Forgings is a manufacturer of supplier of open and closed die forgings of carbon and alloy steel, micro alloy steel and stainless-steel forgings.

The company reported a consolidated net profit of Rs 24.69 crore in Q1 FY22 as against a net loss of Rs 29.48 crore in Q1 FY21. Net sales during the quarter increased by 267.11% YoY to Rs 417.11 crore.

The scrip shed 0.58% to currently trade at Rs 867.90 on the BSE.

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