|
| Exchange Disseminated Time 21/01/2017 12:14:05 | With reference to the earlier letter dated January 19, 2017 regarding outcome of the Board meeting held on 19/1/2017, Fiberweb India Ltd
has now informed BSE regarding to add certain things as the same was left out erroneously:
1. The Company proposes to issue and allot 1800000 convertible equity warrants of Rs. 10/- each at an issue price of Rs. 181/- each (including an premium amount of Rs. 171/- each) aggregating to Rs. 32.58 crores (Rupees Thirty-Two crore Fifty-Eight lacs only) or at such higher prices as may be determined in compliance with Chapter VII of the SEBI (ICDR) Regulations, 2009 on Preferential Basis to the Promoters/ Promoter Group of the Company and to the Strategic Investors, not forming part of the Promoter Group of the Company.
2. The main object of the issue of convertible warrants shall to augment resources for meeting its business requirements, expansion plans of its manufacturing facilities; to meet long working capital requirements of the Company; to invest in marketable securities; to invest in wholly owned subsidiaries; to grant loans/ICD & repay any loans/ICD taken by the Company; other general corporate purpose. The proceeds of the issue may be used for either or any one or more purposes collectively. |
|
|