Spentex to raise Rs 175 cr from global mkts

MUMBAI: Textile company Spentex Industries Ltd has decided to raise Rs 175 crore from the international or the domestic market through the issue of Foreign Currency Convertible Bonds (FCCBs) or other securities.

The EGM held recently accorded authority to the board to raise the amount through the issue of FCCBs, GDRs, equity shares, debentures or other securities to investors (including Qualified Institutional Buyers or any of their eligible nominees or affiliates), the company informed the Bombay Stock Exchange.

The shares of the company closed at Rs 53.75, up 1.13 per cent at the BSE.