Sanghi Industries Ltd Share Price – NSE  /  BSE

Cement, Small Cap

The company will issue 220 crore non-convertible cumulative redeemable preference shares with face value Rs 10 each at par, aggregating upto Rs 2,200 crore on private placement basis.

Sanghi Industries is engaged in the manufacturing and marketing of cement and cement products in domestic and export market.

The company reported a consolidated net loss of Rs 142.73 crore in Q3 FY24 as compared with net loss of Rs 143.95 crore recorded in Q3 FY23. Revenue from operations jumped 42.2% YoY to Rs 188.73 crore in Q3 FY24.

The scrip rose 0.82% to trade at Rs 94.85 on the BSE.

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The Board of Sanghi Industries at its meeting held on 22 April 2024 has approved raising of funds by issuance of Non-Convertible Cumulative Redeemable Preference Shares (RPS) of face value of Rs.10/- each aggregating upto Rs. 2,200 crore, in one or more tranches, on private placement basis, subject to approval of the shareholders of the Company.

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The Board of Sanghi Industries at its meeting held on 22 April 2024 has approved sub-division and increase in authorised share capital of the company from existing Rs. 550 crore divided into 35,00,00,000 equity shares of face value of Rs. 10/- each and 2,00,00,000 preference shares of face value of Rs. 100/- each to Rs. 2550 crore divided into 35,00,00,000 equity shares of face value of Rs. 10/- each and 220,00,00,000 preference shares of face value of Rs. 10/- each and consequent alteration in Clause V of the Memorandum of Association of the Company, subject to the approval of shareholders.

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Sanghi Industries will hold a meeting of the Board of Directors of the Company on 27 April 2024.

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