Indian firm Kshitij Polyline raises Rs 25 crores through a rights issue for debt reduction, machinery procurement, and growth.

Indian firm Kshitij Polyline raises Rs 25 crores through a rights issue, eyeing debt reduction, machinery procurement, and strategic growth. TATA Group may acquire a 20% stake, and analysts recommend a 'buy' rating with a one-year target price of Rs 150 per share. The funds will also support a waste management project and potential acquisition of Omkar Speciality Chemicals, expected to increase production capacity by 30-40% in FY25.

August 03, 2024
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