The allotment committee of the luggage manufacturer approved raising Rs 50 crore by issuing non-convertible debenture (NCDs) on private placement basis.
The committee on 7 September 2020 approved the allotment of 500 listed, secured, rated, redeemable, non-convertible debenture (NCDs) of Rs 10 lakh each aggregating to Rs 50 crores on private placement basis.Shares of VIP Industries rose 0.46% to Rs 281.95. The scrip has surged 50.01% from its 52-week low of Rs 187.95 hit on 24 March 2020.
VIP Industries reported a consolidated net loss of Rs 51.32 crore in Q1 June 2020 compared with net profit of Rs 35.08 crore in Q1 June 2019. Net sales tanked 92.9% to Rs 40.33 crore in Q1 June 2020 over Q1 June 2019.
VIP Industries manufactures hard luggage and markets soft luggage imported from Bangladesh and China. VIP is the largest player in the luggage industry in India.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app