The Board of Directors of Mitsu Chem Plast  has considered and approved raising of funds aggregating upto Rs. 125 crore by way of issue of equity shares through further public offer for the purpose of repayment/pre-payment, in full or part, of certain borrowings availed by the company, funding the working capital requirements of the company and general corporate purposes, subject to such approvals, as may be required.

The board also approved the Draft Red Herring Prospectus for filing with Securities and Exchange Board of India, BSE Limited and National Stock Exchange of India Limited (collectively, the "Stock Exchanges") as per the provisions of the Securities and Exchange Board of India (SEBI) (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended in connection with the proposed further public offering with the powers granted to the FPO Committee of the Board of Directors to do necessary modifications / updations as required for filing with SEBI / Stock Exchanges.