Mold-Tek Technologies Limited has informed the Exchange regarding the utilization of proceeds of Preferential Issue of Equity Shares ''.
MOLDTECH · price
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Mold-Tek Technologies has disclosed the utilization of Rs. 47.56 crore raised through a preferential issue of equity shares. The entire proceeds will be used for capital expenditure to construct a new branch office building at Nashik, Maharashtra. The company acquired the land for this project in 2023 and currently operates from rented premises in Nashik. The construction is expected to be completed within 15-18 months from the date of allotment, establishing a dedicated facility to support ongoing business operations and future growth.
This is a positive long-term move as the company shifts from rented to owned premises, reducing future rental costs and strengthening its operational infrastructure. However, it is a routine capital expenditure announcement with no immediate impact on stock price.