Carysil Successfully Concludes Equity Issue, Raises ₹125 Crore

Carysil Limited, a leading manufacturer of kitchenware and homeware products, has announced the successful completion of its equity issue. This announcement follows a series of communications from Carysil, including their initial letter dated July 03, 2024, regarding the issue opening on July 01, 2024, and a subsequent letter on the same date confirming the closing on July 03, 2024.

Equity Allotment and Capital Increase

On July 03, 2024, Carysil’s Capital Raising Committee convened and approved the allotment of 15,70,351 new equity shares to qualified institutional buyers. The issue price was set at ₹796 per share, representing a premium of ₹794 per share.

However, a discount of ₹41.89 per share (5% of the floor price as determined by SEBI ICDR Regulations) was applied, resulting in a net collection of approximately ₹125 crore. This successful issue increases Carysil’s paid-up equity share capital from ₹5,36,90,510 to ₹5,68,31,212. The corresponding number of shares rises from 2,68,45,255 shares with a face value of ₹2 each to 2,84,15,606 shares with the same face value.

Transparency and Regulatory Compliance

Carysil emphasises its commitment to transparency and regulatory compliance. The company confirms that the shareholding pattern before and after the issue will be submitted along with the listing application in the format mandated by Regulation 31 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Looking Ahead: Growth and Expansion

The successful completion of the equity issue signifies a positive step forward for Carysil. The ₹125 crore raised can be strategically deployed to fuel growth initiatives, product development, or potential acquisitions. This capital injection strengthens Carysil’s financial position and positions them for continued success in the homeware and kitchenware market.

About Carysil Limited

Carysil is engaged in manufacturing and trading of Quartz Kitchen Sinks, Stainless Steel Kitchen Sinks, Bath Products, Tiles, Kitchen Appliances and Accessories.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.