Kshitij Polyline Limited has informed the Exchange about the offer and issue of fully paid-up Equity Shares by way of a Right Issue to the existing shareholders of the Company
KSHITIJPOL · price
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Kshitij Polyline Limited's board has approved a Rights Issue of fully paid-up equity shares with face value of Rs. 2 each. The issue size will not exceed Rs. 2,933.74 Lakhs (approximately Rs. 29.34 crore). The shares will be offered to existing shareholders as on a record date that will be notified later. The specific ratio and number of shares to be issued will be finalized at a later stage. The company manufactures plastic sheets and films including PP, PVC, HIPS/PS, ABS, and HDPE products.
The Rights Issue will dilute existing shareholder stakes but allows current shareholders to maintain their proportional ownership by subscribing to the new shares. The Rs. 29.34 crore raised could fund expansion, reduce debt, or meet working capital needs.