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Century Textiles BoD to Mull Fundraising on Jul 16

Jul 12, 2024

By: BlinkX Research Team

The Board of Directors of Century Textiles and Industries on Monday, July 8, said that it has scheduled to meet on July 16, 2024, to consider the proposal to raise funds of up to Rs 1,000 crore through issuance of non-convertible debentures (NCDs) in one or more tranches.
 

Key Takeaways from Century Textiles and Industries Board Meeting 

• Century Textiles Board said on July 8 to schedule a meeting on July 16, 2024.
• The meeting scheduled is to consider the proposal to raise funds of up to Rs 1,000 crore.
• The fundraising will be done via the issuance of non-convertible debentures (NCDs) in one or more tranches.
• The board of directors will also declare the unaudited standalone and consolidated financial results for the June 30, 2024, quarter.
   

Under relevant legislation, the company intends to issue unsecured, listed, rated, redeemable NCDs through private placement, contingent on obtaining all necessary legislative and regulatory approvals.
 

Meanwhile, the board of directors will also approve unaudited standalone and consolidated financial results for the June 30, 2024 quarter.
 

About Century Textiles and Industries Limited

Century Textiles and Industries Limited is a public firm established in 1897 to convert cotton into fabrics. The company has grown into a commercial powerhouse with operations in a variety of industries. The company, part of the Aditya Birla Group, is a trailblazer in cotton textiles and has a strong presence in the pulp & paper and real estate industries. Century Textiles has a remarkable journey characterised by continual emphasis on customer centricity and technological innovation. Over the last 120 years, it has consistently turned barriers into stepping stones and increased prominence.
 

Further, the company focuses on manufacturing products comparable to international standards and globally competitive, using better quality, the latest technology, and continuous advancement.
 

Read More About Century Textiles and Industries Share Price Here!