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Borosil Renewables Ltd
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Borosil Renewables Ltd announces Successful Completion of Rs 200 crores QIP
Posted On: 2020-12-18 03:26:55 (Time Zone: Arizona, USA)
Borosil Renewables Limited (BRL) announced the successful completion of fund raising of Rs. 200 Cr through a Qualified Institutions Placement (Issue). The Securities Issue Committee of BRL approved opening of the Issue on December 14, 2020 and approved the closing of the Issue on 17th December 2020. BRL allotted 1,58,04,030 shares of face value of Re. 1 each at Rs. 126.55 per share. Post the QIP issue, the holding of promoter and promoter group will be 61.92%.
Commenting on the QIP s response, Pradeep Kheruka, Executive Chairman of Borosil Renewables Ltd., said, We are overwhelmed with the response from the investors and thank them for showing confidence in the business and management team of Borosil Renewables. The funds raised through this QIP will help us undertake our planned expansion and we are excited to capitalise on the business oppo
Government of India to levy duty @ 9.71% on Textured Tempered Coated or Uncoated Glass imports from Malaysia
Posted On: 2020-12-14 03:58:04 (Time Zone: Arizona, USA)
Pursuant to application made by Gujarat Borosil Limited (Company amalgamated with the Company ie. Borosil Renewables Limited (Formerly Borosil Glass Works Limited), under a Composite Scheme approved by NCLT) to the Directorate General of Trade Remedies, Ministry of Commerce & Industry, Government of India, for imposition of Countervailing Duty on imports from Malaysia of Textured Tempered Coated or Uncoated Glass (of which the Company is the sole manufacturer in India), the said Designated Authority has vide their letter dated December 11, 2020 issued Final Findings for imposition of Countervailing duty @ 9.71% of CIF value for a period of 5 years. The duty will be effective after the issuance of final customs notification by Ministry of Finance, Government of India in this regard in due course.
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