Shares of Borosil Renewables surged 4% on June 25 after news emerged that the company is planning to raise up to ₹250 crore through a Qualified Institutions Placement (QIP).
The stock rose after the company announced it had received board approval for the QIP, setting a floor price at ₹331.75 per share.
As of 11:57 am, Borosil Renewables shares were trading 4.10% higher at ₹527.80 on the NSE.
Borosil Limited, known for its laboratory glassware and microwavable kitchenware, distributes its products through over 15,000 retail outlets.
The company operates three manufacturing facilities and exports its products to more than 70 countries worldwide.
