Birla Cotsyn To Mop Up 75 Million Via Various Routes (11-Aug-2010)
Birla Cotsyn (India) has received its board’s nod to raise $75 million through issue of Follow on Public Offer (FPO)/ rights issues/ Preferential Issue/ Global Depository Receipts (GDRs)/ American Depository Receipts (ADRs) etc. Further, the company’s board has approved to increase authorized capital from Rs 250 crore to Rs 550 crore.
The company received its board’s nod for the above mentioned purposes at its meeting held on August 11, 2010.
Recently, the company had also received its board’s consent to invest Rs 500 crore in the expansion of business.
The company is engaged in the manufacturing of synthetic blended ring spun yarn.
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