Fineotex Chemical Ltd Raises Rs 342.55 Crore via Equity Shares and Warrants

Fineotex Chemical Ltd, a speciality chemicals manufacturer, announced on Monday that it has successfully raised Rs 342.55 crore through the issuance of equity shares and warrants on a preferential basis. This includes a previous tranche of Rs 124.4 crore raised in May 2024, aimed at supporting both organic and inorganic growth opportunities.

Fineotex Chemical Ltd, a leading manufacturer of speciality chemicals, disclosed on Monday that it successfully raised Rs 342.55 crore through a preferential issue of equity shares and warrants.

In a regulatory filing, the company confirmed the completion of its ''fund-raising of Rs 342.55 crore through a preferential allotment of equity shares and convertible warrants''.

Sanjay Tibrewala, CFO and Executive Director of Fineotex Chemical, stated, ''This preferential allotment aligns with the initial tranche of our fund raised on May 22, 2024, amounting to Rs 124.4 crore. The cumulative funds raised from both tranches now total Rs 342.6 crore.''

Tibrewala added, ''The capital raised will be invested strategically to support both organic and inorganic growth opportunities, reinforcing our commitment to enhancing shareholder value and advancing operational excellence.''

(With inputs from agencies.)