Glassware maker Borosil hikes stake in pharma vials unit Klass Pack

Borosil Ltd has invested an additional INR 19 crore in its subsidiary company Klass Pack Ltd by way of subscription towards rights issue. Klass Pack has allotted 2,36,211 equity shares of face value of INR 100 each at a premium of INR 746.70 per equity share. Post the transaction, Borosil's stake in Klass Pack has increased from 79.53% to 82.49%. Klass Pack manufactures pharmaceutical vials and ampoules which cater to the glass primary packaging needs of pharmaceutical companies.