New Delhi, May 4 -- AVI Polymers, a penny stock, was locked at its 5% upper circuit limit in Monday's trade, May 4, settling at Rs.20.95 apiece and extending its winning run to the 13th straight session. In a regulatory filing, the company informed investors that its Board of Directors will meet on Thursday, May 7, to consider key strategic proposals, including a potential fundraise of approximately Rs.500 crore.

The Board will evaluate various capital-raising options such as a Qualified Institutional Placement (QIP), a preferential issue, a private placement, or a combination of other permissible routes, subject to the necessary regulatory and shareholder approvals. "The proposed transaction, being assessed at an indicative valuation of...