Bhagiradha Chemicals & Industries Limited — Important, 24-01-2025: Updates

A certificate from R. Kankaria & Uttam Singhi, Chartered Accountants, confirms that Bhagiradha Chemicals & Industries Limited (BCIL) successfully completed the allotment of 52,34,100 equity shares following the exercise of warrants. The total consideration received amounts to Rs. 52.29 crore from 28 allottees. The shares were allotted at an issue price of Rs. 133.20 each, as part of a preferential issue approved on November 17, 2023, with the issuance being finalized on January 24, 2025. This successful capital raise strengthens BCIL's financial base, indicating potential for enhanced operational capability and growth prospects. Investors should monitor the company's upcoming performance, as this development could lead to an optimistic outlook.