Sanghi Inds board to mull fund raising on April 22

The cement maker on Tuesday announced that its board will consider the proposal of fund raising on Monday, 22 April 2024.

In a regulatory filing, the company said that its board of directors will consider and evaluate a proposal for raising of funds, in one or more tranches, through permissible mode and/or combinations thereof.

The funds would be raised by way of issuance of shares, any other instruments or securities, through private placement, preferential issue or such other methods or combinations thereof as may be decided by the board.

Sanghi Industries is engaged in the manufacturing and marketing of cement and cement products in domestic and export market.

The company reported a consolidated net loss of Rs 142.73 crore in Q3 FY24 as compared with net loss of Rs 143.95 crore recorded in Q3 FY23. Revenue from operations jumped 42.2% YoY to Rs 188.73 crore in Q3 FY24.

The scrip rose 0.98% to end at Rs 94.18 on the BSE yesterday. The domestic markets is shut today on account of Ram Navami.

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