Prism Johnson, a renowned integrated building materials company, witnessed a surge in its shares by 4% following the announcement of its board’s plan to convene on Friday, March 29, 2024. The purpose of this meeting is to deliberate upon raising funds through non-convertible debentures (NCDs) on a private placement basis.
Prism Johnson’s decision to look at fundraising possibilities through NCDs is a manifestation of its proactive approach toward strengthening both its financial and capital position. With a diverse product line including cement, ready-mixed concrete, tiles and bath products for home owners who want the best in every area they can access it–Prism Johnson could use that presence as well as range of goods to underpin its growth trend.
Prism Johnson’s diversified business segments, including cement, H & R Johnson (tiles business), ready-mix concrete, and RQBE Gen Insurance Co., contribute to its robust operational framework and market resilience.
Despite reporting a consolidated net loss of Rs 3.45 crore in Q3 FY24, as compared to a net loss of Rs 53.31 crore in Q3 FY23, Prism Johnson remains focused on optimizing its operational efficiency.
As of 9:52 am, Prism Johnson shares surged by 4.37%, trading at ₹178.05 on NSE.
