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Basant Agro's rights issue

CHENNAI: Basant Agro Tech (India) is raising Rs. 11.94 crore through the issue of 47.78 lakh rights shares to the existing shareholders in the ratio of three shares for every two shares held as on July 11. The issue, which opened for subscription on August 9 and will close on September 8, is priced at Rs. 25. The proceeds will be utilised to fund the expansion of its SSP fertiliser unit at Kanheri, Akola, from 83,000 tonnes to 1.20 lakh tonnes annually as well as for purchase of equipment for the NPK mixture granulated fertiliser plant at Akola.

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