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Will raise funds to expand biz activity: Aksh Optifibre
Aksh Optifibre has got a board approval to raise up to USD 333 million or about Rs 1500 crore. In an interview with CNBC-TV18's Latha Venkatesh and Reema Tendulkar, Satyendra Gupta, CFO, Aksh Optifibre spoke on the fund raising plans of the company.
Manufacturer and exporter of optical fibre cables, Aksh Optifibre has got a board approval to raise up to USD 333 million or about Rs 1500 crore. It will raise funds through FCCBs, ADRs/GDRs.
In an interview with CNBC-TV18's Latha Venkatesh and Reema Tendulkar, Satyendra Gupta, CFO, Aksh Optifibre spoke on the fund raising plans of the company.
Below is a verbatim transcript. Also watch the accompanying video.
Q: How much has your board allowed you to raise?
A: USD 333 million.
Q: USD 330 million works out to Rs 1500 crore and your current market cap is not even Rs 190 crore. What kind of a dilution are you looking at?
A: The dilution will be much more than whatever is there. But the company is in the process of expanding its business activities and is in the process of exploring certain business revenues which can be conveniently operated with its present business line of activities.
Q: How much are you planning to actually raise in the first tranche?
A: We are taking the resolution from the shareholders and as and when the investment opportunities crystallize, we will work on the fund raising exercise at that point in time.
Q: Do you have an initial tranche of how much you will dilute?
A: No, not really at the present moment. It is too premature at this stage to talk about that.
