Borosil Renewables hits all-time high, rises for fourth straight session

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Borosil Renewables hits all-time high, rises for fourth straight session


MUMBAI: Borosil Renewables extended gains for fourth session in a row, and jumped to a record high on Wednesday, cheering the successful completion of fund raising of Rs 200 crore through a qualified institutions placement (QIP) last week.

At 9:25 am, the small cap stock was up 7.74 per cent at Rs 200.50, while Sensex climbed 0.40 per cent to 46,153.15 points. The stock had scaled an all-time high of Rs 202.45 in early trade.

The company allotted 15.8 million equity shares of face value of Re 1 each at Rs 126.55 per share. Post the QIP issue, the holding of promoter and promoter group will be 61.92 per cent, Borosil Renewables said in a press release on December 18.

Borosil Renewables is the only solar glass manufacturer in India, and part of the Borosil group, which is also into manufacturing consumer kitchenware and tableware as well as scientific laboratory ware and pharmaceutical packaging such as vials.

Apart from servicing Indian module manufacturers, the firm also exports to clients located in EU, Turkey and North America.





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