Kanoria Chemicals Raises Rs 49.5 Crore via Redeemable Preference Share Allotment

Kanoria Chemicals & Industries Ltd ( (IN:KANORICHEM) ) has issued an announcement.

Kanoria Chemicals & Industries Ltd has approved the allotment of 7% non-convertible, non-cumulative, non-participating, redeemable preference shares with a face value of Rs. 1,000 each. The issue, structured as a preferential allotment on a private placement basis, will see 495,000 such shares issued to promoter group entity R. V. Investment and Dealers Limited for an aggregate consideration of Rs. 49.5 crore.

The move represents a targeted capital-raising step that strengthens the company’s funding base without diluting equity shareholding. By channeling funds from a promoter group entity via redeemable preference shares, Kanoria Chemicals reinforces promoter support while optimizing its capital structure, a development that may be viewed positively by creditors and other stakeholders.

More about Kanoria Chemicals & Industries Ltd

Kanoria Chemicals & Industries Ltd is an Indian chemical manufacturer based in Kolkata, engaged in producing industrial chemicals and related products for diverse end-use sectors. The company is listed on both the National Stock Exchange of India and BSE, giving it access to public capital markets and a broad base of institutional and retail investors.

Average Trading Volume: 4,855

Technical Sentiment Signal: Sell

Current Market Cap: 3.22B INR

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