Eastern Silk to issue Rs200-crore FCCBs
13 Dec 2005
Kolkata: 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.
To 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 Rs200 crore.
Though 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.
The company stock today closed at Rs205.60 on the NSE, down 1.25 per cent with a traded quantity of 63,341 shares.
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