Speciality chemical compounds maker Vishnu Chemicals has raised ₹200 crore through a professional institutional placement (QIP).
On August 1, the fundraising committee had accredited the allotment of 57,97,095 fairness shares of face worth of ₹2 every at a difficulty value of ₹345 per share, the corporate stated on Monday in a launch on profitable completion of the fundraise through QIP.
Franklin India Smaller Companies Fund, Aditya Birla Sun Life Insurance Company, ITI Mutual Fund and Bandhan Mutual Fund, amongst others, took half within the subject and have been allotted greater than 5% of the supplied fairness shares, it stated. Vishnu Chemicals is a number one producer of chromium and barium-based speciality chemical compounds.
“This investment marks a pivotal moment in the journey of Vishnu Chemicals… demonstrates support of blue chip investors in the business model of our company,” CMD Krishna Murthy Cherukuri stated. Joint MD Siddartha Cherukuri stated “the response to the QIP has been extremely encouraging.”
