Vipul Organics Shares Surge 4% as Rights Issue Gets Oversubscribed by 80%

• 📈 Strong Demand: Vipul Organics shares rose nearly 4% on April 3 after its rights issue was oversubscribed by 80%. The issue raised ₹36.74 crore against a target of ₹20.41 crore.
• 💼 Rights Issue Details: The company offered 44,37,291 shares at ₹46 each, including a ₹36 premium, to raise capital. Investor demand exceeded expectations, with total applications reaching 79,88,227 shares—1.8 times the original issue size.
• 🙏 Management Response: Vipul P. Shah, Managing Director, thanked shareholders for their strong confidence despite challenging market conditions, stating the funds raised would support the company’s greenfield project at the Sayakha facility.