Refex nod for equity to Television Eighteen

Chennai, Jan 17 (UNI) Refex Regrigerants Limited, a city-based regrigerants management solutions, today decided on a preferential allotment of 2.75 lakh equity shares of Rs 10 each fully paid up to Television Eighteen India Limited at an issue price of Rs 200 per equity share (including a premium of Rs 190 per share).

The members of the company, in the extraordinary general meeting held here, took a decision to this effect and approved the same, a company release said.

The meeting also decided to raise funds in the form of Foreign Exchange by issue Foreign Currency Convertible Bonds/Global Depository Receipts for an aggregate value not exceeding Rs 200 crore.

It was also decided to increase the borrowing powers of the company from the present limit of Rs 100 crore to Rs 200 crore.

The company has reported a turnover of Rs 51.29 crore for the year 2006-07 with a net profit of Rs 3.91 crore and for the nine months ended December 31, the turnover was Rs 63.03 crore and the net profit Rs 9.04 crore.

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