Xpro India to raise Rs.140 crore through QIP


Biznextindia: Xpro India Limited has proposed to raise upto Rs. 140 Crores through preferential issue of Convertible Warrants and upto Rs. 150 Crores through a Qualified Institutions Placement (QIP). The promoter group will also participate in the preferential issue, to signify their continuing commitment through their significant holding. The key intent of the Board is to further strengthen the capital resource base of the Company in light of the growth plans that are in motion, and the underlying strategic vision of being a focused player of consequence in the dielectric BOPP film business in the global space, besides consolidating our domestic first-mover status.

The management is confident of being on track with the timelines for the expansions as detailed in the last Annual report, and as mentioned in subsequent releases. As a step towards enlarging our successful footprint in the industry’s global supply chain the Board has approved the setting up of a subsidiary in the United Arab Emirates; shareholders will be kept informed as required in due course about related developments. The Board believes that its emphasis on sound governance, financial discipline, and objectives on business scale and focus, are all important factors in value enhancement. The Board greatly appreciates the support of shareholders and looks forward to their due approvals.

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