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CPCL reworks Nagapattinam refinery configuration to boost petrochemical production
ByAinvest
Tuesday, Jun 3, 2025 12:09 pm ET1min read
CPCL is reworking the configuration of its proposed 9 million tonne Cauvery Basin Refinery in Nagapattinam to enhance petrochemical components, including HDPE, LDPE, LLDPE, and PVC. The ₹36,400-crore project aims to improve project economics and is set to save ₹30-40 crore in CST every month. The company has set aside ₹400 crore for retail outlets and plans to save on CST when venturing into the retail business.
UGRO Capital, a data-tech driven MSME financing NBFC, has fixed a price of Rs 162 per share for its Rs 400-crore rights issue. The announcement follows the approval of the company's Securities Allotment & Transfer Committee for the final terms of the rights issue [1].Under the approved terms, UGRO Capital will offer new equity shares totalling up to Rs 400 crore at a price of Rs 162 per share. This pro-rata offering ensures that all existing public shareholders have a fair opportunity to maintain their stake and guard against dilution as the company continues to expand its balance sheet and deepen its data-tech advantage in serving India's underserved MSMEs [1].
The company has set June 5 as the record date for eligibility and the issue will remain open from June 13 to June 20, with a possible extension of up to 30 days. As of now, UGRO Capital has 9.32 crore equity shares outstanding [1].
UGRO Capital's recent performance has seen assets under management grow to Rs 12,003 crore and profit before tax more than double to Rs 203 crore in FY2024-25, while maintaining a healthy capital adequacy ratio. The company aims to use the funds raised to ensure its growth trajectory remains unhindered and to support the financial needs of small businesses across India [1].
Commitments totalling over Rs 250 crore, including Rs 150 crore from IFU (Investment Fund for Developing Countries, Denmark), and Rs 34 crore from the promoter, promoter-group and employees, are already in place for the rights issue [1].
References:
[1] https://economictimes.indiatimes.com/markets/stocks/news/ugro-capital-fixes-rs-162-per-share-for-rs-400-cr-rights-issue/articleshow/121570668.cms
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