Asian Electronics to raise Rs 300 cr to fund its expansion plans

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Mumbai, Jan 3 (UNI) Asian Electronics, an electronic design manufacturing company, will raise Rs 300 crore from the market to fund its expansion plans.

The Company today informed the Bombay Stock Exchange (BSE) that the amount will be raised using financial instruments such as equity and QIP as per the SEBI guidelines. Directors of the Company have approved the deal and will convene an extra-ordinary general meeting of its shareholders on February 21, to seek their approval, necessary for the fund raising programme.

The scrip of the Company at BSE touched a 52-week high of Rs 585 today and the share was quoting at Rs 562.65, up by Rs 23.35 from its last close.

UNI AD NM SM1514

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