Eastern Silk is planning a Rs80-crore capital expenditure
for raising its silk fabric producing capacity at its
existing unit in Bangalore and setting up a new unit for
carpet and made-ups such as curtains and pillow covers.
finance this capital expenditure and to prepay a significant
portion of its secured loans the company has planned to
issue foreign currency convertible bonds worth around
the proposed issue is yet to be finalised, a broad resolution
to this effect is being placed at the company's AGM to
be held on December 30.
company stock today closed at Rs205.60 on the NSE, down
1.25 per cent with a traded quantity of 63,341 shares.