Aksh Optifibre to raise $8 million

Aksh Optifibre Ltd has announced that the Board of Directors of the Company at its meeting held on November 26, 2009, inter alia, has decided, subject to approval of the shareholders of the Company to issue upto USD 8.00 Mn through issue of ADRs/ GDRs / FCCBs or other convertible securities.

The Board also approved increase of Authorised Capital of the Company from Rs. 42,50,00,000/- (Rupees Forty Two Crore and Fifty Lac) divided into 8,50,00,000 equity shares of Rs. 5/- each to Rs. 47,50,00,000/- (Rupees Forty Seven Crore Fifty Lac) divided into 9,50,00,000 equity shares of Rs. 5/- each.

The stock closed the day at Rs.20.05, up by Rs.0.35 or 1.78%. The stock hit an intraday high of Rs.20.50 and low of Rs.19.

The total traded quantity was 33326 compared to 2 week average of 53761.

Source : Equity Bulls

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