VA Tech Wabag Ltd. plans to raise funds via the issue of debt securities to optimise its cost of debt.
The meeting of the board of directors of the company has been scheduled on November 25 to consider and approve the proposal for fundraising by issuing non-convertible debentures (NCDs) through private placement.
In the September quarter, the company reported a 75 percent increase in its standalone net profit at Rs 34 crore while its revenue grew 14 percent to Rs 573 crore.
The pure play water group's order book currently stands at Rs 10,300 crore.
VA Tech Wabag offers turnkey solutions for water and wastewater treatment to municipal and industrial segments. It undertakes turnkey contracts for design, engineering, procurement, construction, erection, commissioning and operation, and maintenance of water and wastewater treatment plants in India, North Africa, the Middle East, China, and South East/Central/Eastern Europe.
The stock is currently trading at Rs 305.15, up 0.96 percent.
(Edited by : Rukmani Krishna)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Elections 2024 | How critical is Phase-5 for both NDA and I.N.D.I.A
May 20, 2024 7:30 AM
Lok Sabha Election Phase 5 Voting Live Updates: Leaders, actors among early voters as 49 seats poll today
May 20, 2024 6:34 AM