HBSC AMC, Bandhan AMC, HDFC AMC and ITI AMC among top investors
Ahmedabad, October 25, 2024 -The top integrated chemical company in India, Epigral Ltd. (previously Meghmani Finechem Ltd.), said today that it has successfully completed its Qualified Institutional Placement (QIP) by raising Rs 333.05 crore at an issue price of Rs 2,093.13 per share.
Prominent firms including HSBC AMC, Bandhan AMC, HDFC AMC, ITI AMC, Morgan Stanley, and numerous more showed a great deal of interest in the QIP.
These cash will be used by the chemical major to support the company’s expansion goals. Epigral will be able to grow its market presence and fortify its financial position with the aid of the equity financing.
In order to raise Rs 333.05 crore, the company offered 15.91 lakh shares at a price of Rs 2,093.13 each. Following this new equity share issuances to QIPs, the total number of fully diluted equity shares that were outstanding after allotment increased from 4.16 crore shares to 4.31 crore shares.
“We are delighted to announce that we have received tremendous response from many marquee institutions, reflecting their confidence in our business and future growth potential,” said Maulik Patel, Chairman and Managing Director of Epigral Ltd, in response to the QIP triumph. The money raised via QIPs will go toward the company’s expansion goals.
Based on the capital expenditures we have made in previous years; we are prepared for volume expansion. In addition, we plan to make more capital expenditures to ensure steady growth and value creation for all of our stakeholders.
About Epigral Limited
Epigral Limited (Epigral), formerly known as Meghmani Finechem Ltd, incorporated in 2007, is a leading integrated manufacturer of chemicals in India. Epigral’s Dahej facility is a backward and forward integrated and automated complex with a well-planned infrastructure. In India, Epigral is the first to set up an Epichlorohydrin plant and largest capacity plant of CPVC. Epigral is also a leading manufacturer of Caustic Soda, Caustic Potash, Chloromethanes, Hydrogen Peroxide, Chlorine and Hydrogen.
Epigral is strengthening its position in the specialty chemical segment by enhancing its capacity in CPVC, venturing into the Chlorotoluenes value chain and dedicated R&D centre. The company is focused on sustainable value creation for all its stakeholders and has been awarded with the Responsible Care certificate.
Through integral collaborations and exceptional solutions, Epigral strives to enhance value and exceed expectations, leaving an indelible mark on stakeholders and the industry.
