The cooling product maker Blue Star has announced that the board of directors will meet on August 3 to consider the proposal for raising funds. The board is considering proposals for raising funds by issuance of preference shares, convertible bonds, debentures, warrants, equity shares, and other equity-linked securities, including through a preferential issue or qualified institutions’ placement of Securities.

The Blue Star is yet to report its Q1 results for the current fiscal year.

The air conditioner and water cooler maker’s Managing Director B Thiagarajan had revealed in a media interaction that the company was aiming at a 15% market share by FY 2025 in the air conditioner segment, which is currently 13.5%.

He also mentioned that the company aims to increase its exports within the next 3 years.

He said, “You know China plus one strategy. People want to look at India other than China. Under that, we are exploring these markets. Today, we do exports of around Rs 800 crore, we would like to double it within three years,”

At 11:10 am, the share of Blue Star Ltd was trading at Rs 797.95 or 1.83% above its previous close on NSE.