In an exchange filing, Carysil said, “The board of directors has approved the proposal for raising of capital through a qualified institutions placement (QIP)/preferential issue, for an aggregate amount not exceeding Rs 150 crore by the issue of equity shares of face value of Rs 2 each.”

The raising is subject to regulatory/statutory approvals as may be required, including approval of the company’s shareholders. The firm will be seeking approval of the shareholders by postal ballot.

Carysil is engaged in manufacturing and trading of quartz kitchen sinks, stainless steel kitchen sinks, bath products, tiles, kitchen appliances and accessories.

The company’s consolidated net profit rose 27.2% to Rs 15.33 crore on 36.4% jump in net sales to Rs 187.96 crore in Q3 FY24 over Q3 FY23.

The scrip rose 0.84% to trade at Rs 958.35 on the BSE.