Flexituff International Ltd approves raising funds from IFC

The Board of Directors of Flexituff International Ltd at its meeting held on November 29, 2013, have considered and approved the proposal for raising funds of upto Rs. 450,000,000 by way of preferential issue of equity shares or compulsory convertible debentures to International Finance Corporation.

The Board approved raising of funds upto USD 9 Million in foreign currency, through issue of Foreign Currency Convertible Bonds (FCCBs) convertible into equity shares.

An extra ordinary general meeting of the members of the Company will be held on December 23, 2013 for obtaining the authority / approval of the members of the Company for the above mentioned agenda items.

Shares of Flexituff International Ltd was last trading in BSE at Rs.222.55, down by Rs.0.50 or 0.22%. The stock hit an intraday high of Rs.227.50 and low of Rs.220.

The total traded quantity was 0.12 lakhs as compared to 2 week average of 0.16 lakhs.

Source : Equity Bulls

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