Everlon Synthetics to raise up to Rs 3.50 crore through Rights Issue

Everlon Synthetics has received an approval to raise up to Rs 3.50 crore through Rights Issue. The board of directors at their meeting held on January 10, 2015 has taken on record the draft letter of offer to be filed with SEBI in respect of the proposed Rights Issue.

The board of directors has further authorized the Rights Issue Committee to make the necessary modification/changes as suggested by the board and take all such steps as it deems fit before filing the same with SEBI and Stock Exchanges. The Rights Issue price and the ratio of entitlement would be determined at the appropriate time after receipt of observation letter from SEBI.

Everlon Synthetics is engaged in the business of manufacturing textile yarns and share investment and advising. It manufactures polyester texturized yarn and polyester twisted yarn.