Thangamayil Jewellery's board OKs to raise upto Rs 600 cr

The company will raise funds way of issue of equity shares of the company of face value Rs 10 each through rights issue for an amount not exceeding Rs 600 crore to the eligible equity shareholders of the company as on the record date.

'The board also approved the formation of a rights issue committee for the said Rights Issue to decide on the terms and conditions of the rights issue including but not limited to the rights entitlement ratio, the issue price, record date, timing of the rights issue and other related matters,' the company stated in regulatory filing.

Thangamayil Jewellery in the business of GOLD JEWELLERY, DIAMOND AND SILVER ARTICLES, WHICH constitutes a single business segment.

The company's consolidated net profit declined 3.5% to Rs 56.56 crore on 27.3% jump in net sales to Rs 1,220.33 crore in Q1 FY25 over Q1 FY24.

Shares of Thangamayil Jewellery shed 0.88% to Rs 2,313.85 on the BSE.