SRF board approves raising upto 1000 cr
SRF on Monday (31 August) said that its board approved raising upto Rs 1000 crore through equity and debt.
The board approved raising upto Rs 750 crore through qualified institutional placement of equity shares and upto Rs 250 crore through private placement of listed redeemable secured non-convertible debentures.
The stock slumped 4.11% to Rs 4,048.95 on the BSE. It traded in the range of 4015.45 and 4250.55 so far during the day.
On a consolidated basis, SRF's net profit declined 6.4% to Rs 177.09 crore on a 12.6% fall in net sales to Rs 1513.12 crore in Q1 FY21 over Q1 FY20.
SRF is engaged in the manufacturing of industrial and specialty intermediates.
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