Dollar Industries QIP: Rs 350 Crore Fundraise Approved By Board - Details

Dollar Industries on Thursday announced that its board has approved the launch of a Qualified Institutional Placements (QIP) of equity shares of an amount up to ₹350 crores.

Dollar Industries in a corporate filing has notified the bourses that with reference to their letter dated December 24, 2024, the company's board held its meeting on January 2, 2025.

The company's board has approved "Raising of fund of an amount upto Rs. 350.00 Crores by way of issue of equity shares either by way of Qualified Institutional Placement (QIP) on private placement / preferential basis and/ or any other permitted modes in accordance with Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulations, 2018 and Companies Act, 2013, as amended, subject to approval of Shareholders of the Company and receipt of such regulatory/Statutory approvals as may be required," Dollar Industries said in a filing on the BSE.

Additionally, the board has also directed its Management and Finance Company (MFC) to recommend terms and conditions for the issue of equity shares by way of QIP on private placement/ preferential basis and/or any other permitted modes within 6 months. The board has also directed the MFC for the appointment of merchant bankers, advisors or legal advisors, or any other professionals or credit rating agency to manage the proposed QIP.

The board meeting commenced at 11 am and concluded at 1:45 pm.