Time Technoplast has received an approval to raise funs Rs 150 crore through QIP.

   

      Time Technoplast has received an approval to raise funds up to Rs 150 crore through Qualified Institutional Placement (QIP), subject to shareholders and Statutory / Regulatory approvals, if any. The board of directors at its meeting held on August 13, 2014 has approved for the same.
     Time Technoplast is the leading plastic product company based in India and is engaged in manufacture of technology based innovative products in the space of industrial packaging, infrastructure, lifestyle, automobile, healthcare, material handling and composites. It has expanded its operations outside of India in UAE, Bahrain, Thailand, China, Taiwan and Indonesia. The company is also expanding its operations in South Korea, Vietnam, Turkey and Egypt.
     The promoters holding in the company stood at 61.92% while Institutions and Non-Institutions held 23.29% and 14.78% respectively.
     The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 56.45 on 07-Jul-2014 and a 52 week low of Rs 27.50 on 28-Aug-2013.
     Current price of stock is Rs 49.30 down by 0.15 points from its previous closing of Rs 49.45 on the BSE.