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Simplex Castings Approves ₹141.7 Million Fundraising, Reappoints Ketan Shah as Chairman & CEO

Updated: May 30, 2025 12:34

Image Source: Equity Bulls
Simplex Castings Ltd has announced a fresh equity fundraising of ₹141.7 million, alongside the reappointment of Ketan Moolchand Shah as Chairman and CEO. The company aims to strengthen its financial position and drive strategic growth initiatives with these decisions.
 
Fundraising Approval:
  • The Board of Directors has approved raising ₹141.7 million via equity issuance.
  • The funds will be utilized for expansion, working capital, and operational improvements.
Leadership Continuity:
  • Ketan Moolchand Shah has been reappointed as Chairman and CEO, reinforcing stability in leadership.
  • Shah has been associated with Simplex Castings since 1993, playing a pivotal role in business growth and global expansion.
Market Reaction:
Following the announcement, Simplex Castings’ stock saw increased investor interest, reflecting confidence in leadership and financial strategy.
 
Industry Positioning:
  • The company specializes in heavy engineering and casting solutions, catering to industrial and infrastructure sectors.
  • Recent contracts and expansions have strengthened its market presence in India and overseas.
Simplex Castings’ fundraising and leadership continuity signal a strong commitment to growth and operational excellence, positioning the company for long-term success.
 
Source: Simplex Castings Board Announcement, Economic Times, Free Press Journal

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