VA Tech Wabag rose 2.70% to Rs 310.20 after the company announced that a meeting of its board is scheduled to be held on Friday, 25 November 2022, to consider and approve the proposal for fund raising via issue of debt securities.
The company plans to raise funds by way of issue of non-convertible debentures (NCDs) through private placement.
VA Tech Wabag provides turnkey solutions for water and wastewater treatment to municipal and industrial segments. The company undertakes turnkey contracts for design, engineering, procurement, construction, erection, commissioning and operation and maintenance of water and wastewater treatment plants. The company has presence across India, North Africa, Middle East, China, and South East/Central/Eastern Europe and is one of the leading water management solutions providers across the world.
The company's consolidated net profit increased by 77.99% to Rs 46.67 crore on a 9.71% rise in sales to Rs 750.38 crore in Q2 FY23 over Q2 FY22.
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