Borosil Renewables announced that the company will be issuing fully paid-up equity shares aggregating up to Rs 450 crore via rights issue.
The board stated that it has approved the draft letter of offer to be filed with the Securities and Exchange Board of India and BSE and National Stock Exchange of India for their requisite approvals.Borosil Renewables is engaged in the business of manufacturing of extra clear patterned glass and low-iron solar glass for application in photovoltaic panels, flat plate collectors and green houses.
The company reported a consolidated net loss of Rs 48.07 crore as against a net profit of Rs 10.10 crore in Q4 FY24 over Q4 FY23. Revenue from operations fell 8.39% to Rs 283.11 crore in Q4 FY24.
The scrip rose 0.63% to currently trade at Rs 494.60 on the BSE.
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