Multibagger Specialty Chemicals Company’s Rights Issue Subscribed 180 Per Cent
The stock is up by 25.6 per cent from its 52-week low of Rs 112.70 per share and has given multibagger returns of over 1,000 per cent in a decade.
Vipul Organics Limited, the BSE-listed (VIPULORG / 530627) leading specialty chemicals company in the pigments and dyes segment, announced today the successful closure of the Rights Issue, which opened on March 21, 2025. At the end of the day on the 2 of April, the issue closure date, the issue was oversubscribed by 80 per cent.
The Rights issue offered 44,37,291 shares of Rs. 10 face value at Rs. 46 per share (including premium of Rs. 36 per share), totalling Rs. 2041.15 Lakhs. The issue garnered applications for 79,88,227 shares, amounting to Rs 3674.58 lakh, resulting in subscription of 1.8 times the issue size.
Mr Vipul P Shah, MD, Vipul Organics Limited, said, “We are overwhelmed by the shareholder response to our rights issue. The market conditions notwithstanding, the shareholders' belief in their company and its growth trajectory has made them oversubscribe the issue by 80 per cent. We stay committed to providing value to all our stakeholders and the money raised will be used for our greenfield project, the Sayakha facility to take wings."
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Vipul Organics Limited is a BSE-listed (VIPULORG / 530627) leading specialty chemicals company in the pigments and dyes segment. Today, it is amongst the foremost manufacturers of pigments, dyestuff, lake colours and pigment intermediaries / fast salts in the country. It has 3 manufacturing facilities spread across Maharashtra and has a global footprint in over 50 countries. Vipul Organics ended the financial year 2023-24 with revenues of Rs 151 crore.
The company has a market cap of over Rs 250 crore and has been maintaining a healthy dividend payout of 38 per cent. Today, shares of Vipul Organics Ltd zoomed 3.90 per cent to Rs 141.50 per share from its previous closing of Rs 136.20 per share. The stock is up by 25.6 per cent from its 52-week low of Rs 112.70 per share and has given multibagger returns of over 1,000 per cent in a decade. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.