Filatex board gives nod to raise up to Rs 150 crore

Filatex India’s board has approved to raise up to Rs 150 crore through issue of securities.

The textile company’s board has considered and approved raising of funds up to Rs 150 crore by way of issue of shares, American Depository Receipts, Global Depository Receipts, Convertible bonds/securities through qualified institutional placement, Filatex said in a regulatory filing.

The company, however, did not divulge how it plans to utilise the raised capital.

The company has been promoted by Late Ram Avtar Bhageria, Madhu Sudhan Bhageria, Purrshottam Bhaggeria and Madhav Bhageria belonging to a reputed and well established business family hailing from Jhunjhunu district, Rajasthan and have been settled in Delhi for more than 60 years.

Image Credit : thehindubusinessline.com

Research Desk

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