Flex's board approves raising up to Rs 1,125 cr

New Delhi, Dec 28: Flex Industries Ltd's board has approved e raising of Rs 1,125 crores through issue of global depository receipts, American depository receipts and foreign currency convertible bonds.

Subject to necessary approvals, the company plans to raise about Rs 382.5 crore initially, it said in a statement yesterday.

The board also approved issuance of 10.30 million warrants to promoters on preferential basis at a price to be decided later.

An Extraordinary General Meeting of members of the company has been fixed on January 27, 2007, the statement added.

UNI