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| Exchange Disseminated Time 07/05/2016 19:40:05 | Indo Count Industries Ltd has informed BSE that at the Board meeting held on 7th May, 2016, the Board approved the capex plan for Phase 2 estimated at Rs. 300 crores. This capital outlay will be funded by internal accruals and debt.
The Capex will be for upgrading the existing Spinning Facilities, Investments in additional Weaving (with specialised looms) and value added equipments for delivery of fashion and utility bedding.
FUND RAISING:
The Board at its meeting held on 7th May 2016 has reviewed the medium-term Financial Strategies of the Company and has decided that the current Fund Raise proposal needs to be deferred. |
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