MUMBAI: Shares of Borosil Renewables climbed for third session in a row, as they rose more than 5 per cent on Tuesday, extending the gains after the company announced the successful completion of fund raising of Rs 200 crore through a qualified institutions placement (QIP).
At 9:22 am, the small cap stock was up 5.70 per cent at Rs 179.95, while Sensex climbed 0.79 per cent to 45,912.31 points. The stock had scaled an all-time high of Rs 192 on Monday.
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.
The company is the only Indian manufacturer of solar glass used in photovoltaic panels.
