Bombay Rayon Fashions has denied any plans of raising money through the FPO route.
The company has further clarified that all its expansion plans and the Leela Garment acquisition are already fully funded.
The Rs 155 crore Leela Garment acquisition by wholly owned subsidiary of BRFL (Bombay Rayon Fashion) is funded by capital of Rs 39 crore by BRFL and Rs 116 crore term loan from Exim Bank. The acquisition is already completed.
Further, the expansion of fabrics and garments capacity undertaken by BRFL is funded by equity raised through QIP and term loans under Technology Upgradation Fund Scheme (TUFS) which has already been raised.
Mr Mundra - Executive Director - Finance, Bombay Rayon Fashion has stated that "The funds for all our expansion plans have been planned and mobilized and we are not looking at raising any further capital through the FPO route".
Bombay Rayon Fashions Limited
marketing@alchempro.com
