Borosil To Raise Up To Rs 250 Crore Via QIP

Glassmaker Borosil Ltd. will raise up to Rs 250 crore via qualified institutional placement, following board approval.

The fundraise will be subject to the receipt of necessary approvals, including that of shareholders and other regulatory and statutory approvals, according to an exchange filing on Wednesday.

The company will convene an extraordinary general meeting to seek shareholders' nod for the plan.

Shares of Borosil closed 2.03% higher at Rs 359.40 apiece on Wednesday, ahead of the announcement, as compared with a 0.98% advance in the BSE Sensex.