20 Microns gets nod for raising funds to the tune of Rs 30 crore

09 Jan 2013 Evaluate

20 Microns has received an approval for raising of fund for its expansion projects in domestic as well as international markets, by way of further issue of securities up to the value of Rs 30 crore in Domestic/International markets through various instruments including issue of equity shares/ preference shares/ warrants/ convertible debentures under qualified institutional placements (QIP) or private equity or any other forms of capital raising instruments.

The board at its meeting held on January 08, 2013 has approved for the same subject to all necessary approval(s), including that of the shareholders of the company.

The board has also approved to transfer the undertakings of the company by way of slump sale, associated with mineral products viz. Calcined Clay, China Clay and Talc to Silicate Minerals (I) (or such other name as may be approved by the Registrar of Companies in this regard), a wholly-owned subsidiary, subject necessary approvals including all license, permits, consents and approvals whatsoever on a going concern basis.

20 Microns is the largest producer of white minerals in India. The company’s products are used in areas such as paints, coating and printing ink, adhesives, plastics, ceramic, sealants and paper. The company manufactures specialized products for various companies such as cosmetics, cement, textile and household products.

20 Microns Share Price

235.55 -4.65 (-1.94%)
20-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
Coal India 382.75
NMDC 213.35
GMDC 326.20
MOIL 336.30
Sandur Manganese 407.90
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.