Phillips Carbon Black is looking to raise fresh funds of up to Rs 200 crore through the Qualified Institutional Placement (QIP) route.

The scrip is currently trading at Rs 206 per share, up 10.55 points or 5.40% on the BSE.

The stock opened at Rs 199 compared to its previous close of Rs 195.45. Intraday, the counter has touched a high and a low of Rs 215.60 and Rs 197.95, respectively.

So far 2,76,000 shares of the company were traded on the BSE.

The stock of the face value of Rs 10 touched its 52-week high of Rs 215.60 on March 12, 2010 and a 52-week low of Rs 26.55 on March 16, 2009.

The promoters holding in the company as per December 2009 stood at 53.88%, FIIs and DIIs held 4.47% and 8.32% respectively, while others were holding 33.33% stake in the company. 

Apart from this, the board also accorded its consent for preferential issue of warrants for the amount not exceeding Rs 25 crore.

Further, both proposals are subject to approval of the members of the company.

Phillips Carbon Black, part of the RPG Group, pioneered the carbon black industry in India. It is now the leading producer of carbon black in the country.

The company reported total revenue of Rs 347.36 crore for the quarter ended December 2009, while the net profit of the company was Rs 33.63 crore.