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Apar Industries board OKs Rs 1000 cr fund raising
(15:37, 28 Sep 2023)
The company will raise capital to create, offer, issue and allot such number of equity shares having face value of Rs 10 each or equity linked instruments, including convertible preference shares, non-convertible debt instruments along with warrants, fully convertible debentures, partly convertible debentures, and/or any other securities convertible into equity shares (including warrants or otherwise), global depository receipts, American depository receipts, foreign currency convertible bonds or any combination of securities, through public and/or private offerings and/or by way of qualified institutions placement, or any combination thereof, in one or more tranches, for an aggregate amount not exceeding Rs 1,000 crore.

Apar Industries is engaged in three broad business segments-transformer oils and specialty oils (TSO), conductors segment, and power/telecom cables. Apart from being a market leader in India, the company has a global presence, exporting to over 140 countries. APAR has total installed capacity of 542,000 KL of transformer oils and 180,000 MT of conductors as on 31 March 2023.

APAR Industries reported 61% jump in consolidated net profit to Rs 197 crore on 22% increase in revenue from operations to Rs 3,773 crore in Q1 FY24 over Q1 FY23.

The scrip declined 4.47% to Rs 5,480 on the BSE.

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