Filatex Fashions Ltd. Board Approves USD 100 Million FCCB Offering, Share Capital Increase
Filatex Fashions Ltd. announced on April 3, 2026, that its Board of Directors approved a proposal to raise funds through the issuance of Foreign Currency Convertible Bonds (FCCBs) for an aggregate amount not exceeding USD 100 million, in one or more tranches. The issuance is subject to member approval and receipt of statutory and regulatory approvals. The company has also formed an FCCB Committee to oversee the issuance process.The Board also approved an increase in the Authorized Share Capital of the company from ¥ 8,50,00,00,000 to ¥ 10,00,00,00,000.
Additionally, the Board approved a proposal to provide loans, guarantees, security, and/or make investments up to Rs. 2000 Crores, which is in excess of prescribed limits under the Companies Act, 2013. This will require shareholder approval via a special resolution.
Mr. Sachin Singh has been appointed as the Scrutinizer for the upcoming Extra-Ordinary General Meeting (EGM). Notice of the postal ballot will be shared in due course.
The Board meeting commenced at 2:15 PM (IST) and concluded at 4:15 PM (IST).
| Sr. No. | Particular | Details |
|---|---|---|
| 1 | | Type of securities proposed to be issued | Foreign Currency Convertible Bonds ('FCCB') |
| 2 | Type of issuance | International offering on a private placement basis. |
| 3 | | Total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately); | USD 100 Million |
| 4(ii) | Proposed no. of equity shares underlying the FCCB on conversion | The FCCBs are optionally convertible bonds, with conversion subject to adjustments as per the terms of issue and applicable laws. |
| 3(iii) | Proposed Date of Allotment, Tenure, date of Maturity of FCCB, Coupon offered if any | To be mutually decided between the Company and the Proposed Investors and subject to requisite approvals, if any. |
| 3(iv) | Issue price of ADR/GDR/FCCBS | To be mutually decided between the Company and the Proposed Investors and subject to requisite approvals, if any. |
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