Yasho Industries board approves ₹125 crore preferential share issue

Chemical manufacturer Yasho Industries Ltd announced today that its Board of Directors has approved the issuance of up to 657,895 fully paid-up equity shares on a preferential basis, following a meeting held earlier this afternoon. The equity shares will be issued at ₹1,900 per share, including a premium of ₹1,890, totaling ₹125 crore.

Mumbai-based Yasho manufactures performance chemicals for industries as diverse as rubber and latex, food and flavours, perfumery, lubricants and other specialty applications since 1993.

Yasho said the preferential allotment will be made to three investors: Malabar India Fund Limited, Ashoka India Equity Investment Trust PLC, and WhiteOak Capital ELSS Tax Saver Mutual Fund, subject to shareholder approval and any necessary regulatory clearances.

In the same announcement, the company also revealed plans to seek approval for the share issuance at an Extraordinary General Meeting (EGM). A notice for the EGM will be issued shortly, along with details about the remote e-voting process managed by National Securities Depository Limited (NSDL).

Additionally, the board has approved the issuance of a draft notice for the EGM and authorized the company’s directors and key managerial personnel to oversee the related formalities.

Shares of Yasho Industries closed 1.7% lower on Wednesday at ₹2,050.

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