Aksh Optifibre Plans To Raise $50 Million; Temptation Foods $200 Million
Aksh Optifibre, a publicly listed manufacturer of optical fibres and a telecom service provider, plans to raise Rs 200 crore or $50 million. The company is also reportedly looking at roping in a foreign investor into the company, reports The Economic Times. It further reported that a couple of companies in the internet telephony and IPTV have show interest in acquiring a stake in Aksh.
The company makes a variety of cables such as singlemode and multimode cables, duct cables, armoured & aerial cables, indoor and outdoor cables. The Company has also the facilities or producing ribbon fibre optic cables.
Another publicly listed company Temptation Foods Ltd plans to raise $200 million, says a report. The leading frozen food exporting firm plans to raise the capital by March 2008 to fund its acquisition and expansion efforts. The company is yet to decide on the route - it could be rupee convertible loan or Global Depository Receipts, TFL CEO Vinit Kumar told PTI.
The company had this year raised $30 million through a Qualified Institutional Placement which was part-utilised for acquiring Everfresh, the food processing unit of Chambal Fertilisers and Chemicals Ltd (CFCL), and recently a marine export business in southern India.
