Ador Multiproducts Announces ₹15.35 Crore Share Issue to Drive Growth During Recent Stock Rally

Ador Multiproducts Ltd has made an announcement to issue shares worth as much as ₹15.35 crore, indicating a strategic initiative to ride out its recent stock rally and finance future growth projects. The announcement was made at a time when the share price of the company has been witnessing a sharp jump, going up almost 20% to ₹38.18 on March 20, 2025.

 

Main points:

 

Share issue worth up to ₹15.35 crore sanctioned

 

Recent 19.99% stock rally on March 20, 2025

 

After board meeting to be held on March 21, 2025

 

Market value of the company is ₹13 crore as of recent trade

 

Share issue is to provide support to Ador Multiproducts' financials while it operates in an unfavorable market backdrop. Stock of the company has been volatile in the last one year with a 52-week band of ₹23.45 to ₹45.90.

 

This capital raising comes as Ador Multiproducts seeks to turn around its recent performance, with the stock declining 27.63% in the last year.

 

Sources: Business Standard, Moneycontrol, CNBC TV18, March 21, 2025