Indus Fila to raise US$ 50 Million

Indus Fila Ltd has announced that the Board of Directors of the Company at its meeting held on January 12, 2008, has decided to raise funds upto USD $ 50 million or its equivalent in the form of equity / debt by means of issuance of equity / convertible debt or non convertible instruments such as equity share, preferential equity, GDR, ADRs, Optionally fully convertible instruments, FCCB, QIP and / or any other instruments or combination of any similar instruments as may be advised by the merchant bankers and in compliance of guidelines issued in this regard by SEBI and provisions of the companies Act, 1956.

To convene an Extra-Ordinary General Meeting of the Shareholders of the Company on February 14, 2008 to seek shareholders approval, if necessary, for the above fund raising programme.

Source : Equity Bulls

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