Navin Fluorine International announced that its board of directors has approved a proposal to raise funds of up to ₹750 crore through the issuance of equity shares or other convertible securities.
According to the stock exchange filing, the company may issue equity shares having a face value of ₹2 each, global depository receipts (GDRs), American depository receipts (ADRs), foreign currency convertible bonds (FCCBs), fully or partly convertible debentures, non-convertible debentures with warrants, convertible preference shares, or other securities convertible into equity shares. The instruments may be issued in one or more tranches, through modes such as public issue, private placement, preferential allotment, or qualified institutional placement, among others.
The issuance may be carried out in domestic or foreign markets, subject to necessary regulatory and shareholder approvals. The proposal will be placed before the company’s shareholders at its 27th annual general meeting, scheduled for July 31, 2025.
Navin Fluorine reported a strong Q4 performance with net profit rising 35.7% year-on-year to ₹95 crore, compared to ₹70 crore a year ago. Revenue grew 16.45% to ₹701 crore, while EBITDA surged 62.2% to ₹178.6 crore, boosting margins to 25.5% from 18.3% last year. The board has also recommended a final dividend of ₹7 per share.
The stock of the company ended 0.72% in the green at ₹4,581 apiece on Friday (May 9). The stock has jumped over 39% in the year so far.
Also Read: Navin Fluorine Q4 Results: Net profit rises 35.7%, board recommends final dividend of ₹7/shr
(Edited by : Shoma Bhattacharjee)
