Grasim Industries Ltd has announced its decision to raise up to ₹4,000 crore through a rights issue for eligible equity shareholders. The funds raised from the rights issue will be utilised to support the ongoing capital expenditure plan, repay existing borrowings, and contribute to general corporate purposes. The capital expenditure plan, aimed at solidifying its position in the decorative paints segment, remains a key focus for the company.
The rights issue allows existing shareholders to participate in Grasim’s growth trajectory, with the Promoters and Promoter Group confirming their full subscription to their entitlement and any unsubscribed portion.
However, the shares were down by 0.31 per cent to ₹1959.60 at 1.16 pm on the BSE.