Chennai based apparel retailer, Indian Terrain Fashions Ltd said it proposes to raise Rs 75 crore through issue of securities or qualified institutions placements (QIP’s).
In a filing with BSE, the retailer which retails the Indian Terrain brand said its board of directors in a meeting on December 18 had proposed to raise an amount not exceeding Rs 75 crore.Chennai based apparel retailer, Indian Terrain Fashions Ltd said it proposes to raise Rs 75 crore through issue of securities or qualified institution#
The filing added that it will raise the amount either through issuance of securities including equity shares or other securities convertible into equity shares, including through a public issue.
Other options include a private placement basis or preferential issue or any other kind of issue placement or also through a QIP under SEBI regulations.
The company may also explore other options like American Depository Receipts (ADRs) or Global Depository Receipts (GDR’s) or Convertible Debentures in any form.
Indian Terrain Fashions is convening an extra-ordinary general meeting of shareholders on January 12, 2015 for considering and obtaining the approval for raising funds by way of any of the options. (AR)
Fibre2fashion News Desk - India
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