Gas cylinder maker Everest Kanto has informed that it will raise Rs 150 crore by various fund raising routes.     

The company said in a communiqué that the board of directors of the company at its meeting has approved the raising of Rs 150 crore by issuing fully convertible debentures or through qualified institutional placement with the qualified institutional buyers.     

Mumbai-based Everest Kanto Cylinder Limited engages in the manufacture and sale of high-pressure seamless gas cylinders in India.

Many leading stock analysts suggest that investors with a long-term perspective can consider accumulating the stock of Everest Kanto Cylinder (EKC), on every decline. The company has robust long-term growth plans and will do well in the coming quarters.

Shares of Everest Kanto were trading at Rs 228.70, up 1.13 per cent on the BSE.