Cool Caps looks to raise over Rs 279 cr via rights issue, eyes migration to mainboard

Mumbai, Oct 15 (PTI) Cool Caps Industries looks to raise around Rs 279.97 crore through its rights issue which closes for subscription on October 24, according to a statement.

The company has fixed the price at Rs 70 per share for the rights issue, offering existing shareholders an opportunity to increase their equity in the company, Cool Caps said in a statement.

The rights issue opened on September 30. Applicants will have to pay Rs 17.5 per share at the time of application and the remaining Rs 52.5 per share at a later date to be decided by the board of directors.

After the rights issue, the company will become eligible for migration to the main board, the Kolkata-based manufacturer of plastic caps, which is currently listed on NSE SME platform, said.

Proceeds from the issue will be used to strengthen the company's financial position and support general corporate purposes. For the financial year that ended March 2025, the company reported revenue from operations of Rs 271.85 crore, over 69 per cent rise as compared to the revenue of Rs 161.03 crore in the FY 2024-25. PTI HG MR