Vipul Organics, a leading Specialty Chemicals company, will offer one equity share for every three shares on a rights basis. The issue will be priced at ₹54 a share and will raise ₹25 crore.
The company is yet to fix the record date.
The company has recently completed capacity expansion at its Ambernath facility and construction is on full steam at its greenfield facility at Sayakha in Gujarat.
The funds raised will be utilised to ensure development of the Sayakha facility, and production will begin in a phased manner from the first quarter of FY26.
Vipul P Shah, Managing Director, Vipul Organics said the company has undertaken substantial capacity expansion and has decided to do a rights issue to mobilise funds.
“With a view to reward our shareholders and to include them in the growth of the company, the issue price is at a substantial discount to the current market price,” he said.
Shares of the company gained 12 per cent to ₹261 on Monday.