The board of directors of AYM Syntex Ltd. approved on Tuesday a preferential issue of shares worth approximately Rs 141.8 crore. The company will issue 77.7 lakh shares at a face value of Rs 10 apiece to the promoters, promoter group and non-promoter group, according to an exchange filing.
Aym Syntex will also hold an extraordinary general meeting of the shareholders of the company to get the required approval, the filing said.
A total of 23 investors' names are being proposed, which includes promoter Rajesh Mandwewala (RRM Family Trust), promoter group RRM Enterprises Pvt. and non-promoter Divyanshi Agrawal, it said.
AYM Syntex is a leading producer of multipolymer textiles and bulk continuous filament yarns, with offices across India. It provides top-quality products, a wide variety of colours, excellent service, and innovative solutions.
Shares of AYM Syntex closed 1.98% higher at Rs 188.15 apiece on the BSE, compared to a 0.11% rise in the benchmark Sensex. The stock has risen 178.02% in the last 12 months and 164.56% year-to-date. The relative strength index was 81, indicating that the stock was overbought.
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