Aksh Optifibre Ltd has informed that the Board of Directors of the Company at its meeting held on November 10, 2007, inter alia, has decided to make FCCB and GDR issue of USD 40 mn which includes Green shoe option of USD 5mn. The proceeds of the issue shall be utilized for operations, expansion of manufacturing facilities, VOIP and IPTV projects and other general corporate purposes.
The said issue of FCCB and GDR shall be subject to approval of shareholders at their Extraordinary General Meeting.
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