The company is investing significantly on expansion of its capacity. It has just concluded its capacity expansion at its Ambernath facility. Construction is on full steam at its greenfield facility at Sayakha.
Vipul Organics, the BSE listed (VIPULORG / 530627) Specialty Chemicals company in the pigments and dyes segment, announced their rights issue, after the meeting of the Rights Issue Committee. Vipul Organics will offer 1 share for every 3 shares held on record date at a premium of Rs 44 for the share of face value Rs 10 (total price Rs 54). The rights issue will not exceed the size of Rs 250 million.
“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 priceâ€, says Vipul P Shah, Managing Director, Vipul Organics.
The company is investing significantly on expansion of its capacity. It has just concluded its capacity expansion at its Ambernath facility. Construction is on full steam at its greenfield facility at Sayakha. 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 2025-2026.
About Vipul Organics
Vipul Organics is amongst the foremost manufacturers of pigments, dyestuff, lake colours and pigment intermediaries / fast salts in the country. It has 3 manufacturing facilities spread across Maharashtra (Palghar, Tarapur and Ambernath) and a greenfield facility coming up in Sayakha in Gujarat and has global footprint in over 45 countries. Vipul Organics closed financial year 2023-24 with revenues of Rs1.51 billion.