Pondy Oxides & Chemicals Limited — Important, 20-12-2024: General Updates

Pondy Oxides and Chemicals Limited's Fund-Raising Committee has approved the issue and allotment of 20,34,883 equity shares to eligible Qualified Institutional Buyers (QIBs) at an issue price of ₹860 per share, raising approximately ₹17,499.99 lakhs. This follows the recently closed Qualified Institutions Placement (QIP), completed on December 20, 2024. Post-allotment, the company's paid-up equity share capital has increased from ₹13,02,51,790 to ₹14,04,26,205, with a new total of 2,80,85,241 shares. Notably, significant allocations include shares distributed to various funds, with the largest stake going to the 360 One Equity Opportunity Fund at 11.43%. This capital raise is expected to strengthen the company’s financial position, contributing positively to its strategic initiatives and growth outlook.