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Mold-Tek Packaging announced the successful completion of its qualified institutional placement issue at a premium of 2.44% over the floor price aggregating to Rs 103.6 crore.
The company on 17 December 2021 approved the allotment of 14,00,000 equity shares to the eligible qualified institutional buyers at a price of Rs 740 per equity share which is at a premium of 17.60 per equity share i.e. 2.44% on the floor price of Rs 722.40 as per SEBI guidelines.
The funds who have invested in this QIP include marquee investors like Goldman Sachs India Equity, White Oak India Equity Fund, Aditya Birla Sun Life Trustee Plc, ICICI Prudential Smallcap Fund and others.
As intimated earlier the company is planning to deploy these funds for its entry into Injection Blow Moulding products for regulated pharmaceuticals, Food & FMCG, Cosmetics and OTC medicine segments.
Company is also introducing digital packaging through dynamic QR coded IML , which will provide traceability , anti-counterfeit and marketing promotions facilities, that can be digitally controlled by our clients. This unique DIGITAL packaging solution is bought to India for the first
time by Mold-Tek.
Mold-Tek is also investing in new plants at Kanpur, Sultanpur-Hyderabad and doubling its capacity of existing plants in Mysore and Vishakapatnam, apalt from augmenting its IML printing, die-cutting and tool room capacities.
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