In an exchange filing, the company said, “The board of directors, at its meeting held on Tuesday, 24 May 2022 has considered and approved the raising of funds for an aggregate amount not exceeding Rs 800 crore through issue of equity shares by way of a qualified institutions placement.”

The fund raising is subject to shareholder and regulatory approvals.

Anupam Rasayan India posted a 108.2% jump in consolidated net profit to 46.10 crore in Q4 FY22 from Rs 46.10 crore registered in Q4 FY21. Net sales grew 16.8% year on year to Rs 317.24 crore in Q4 FY22 over Q4 FY21.

Shares of Anupam Rasayan India declined 3.79% to Rs 730.55 on the BSE.

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