Kavveri Telecom Products has decided to raise funds up to Rs 7.5 crore by the way of private placement of equity to Qualified Institutional Buyers (QIB). Moreover, the company has appointed ENAM Securities for raising funds.
The company’s shareholders at the extra ordinary general meeting (EGM) held on July 04, 2011 have approved raising of the funds and also at the same meeting decided to increase authorized capital from existing Rs 20 crore to Rs 25 crore and the consequent alteration to capital clause in the Memorandum of Association of the company.
The company’s net profit for the fourth quarter rose by 16.54% at Rs 7.75 crore as compared to Rs 6.65 crore for the corresponding quarter last year. Its total income increased by 37.19% at Rs 76.25 crore for the quarter under review from Rs 55.58 crore in the corresponding previous quarter. Meanwhile, the company registered a growth of 9.53% in its net profit for FY11 at Rs 34.12 crore as compared to Rs 31.15 crore for FY10.
Kavveri Telecom Products is a leading telecom products manufacturer, providing world-class hardware products and solutions for the telecom, defense and space industry. Kavveri Telecom combines expertise with experience to deliver state-of-art products and solutions spanning the wide spectrum of wireless Telecommunications. The diverse range of products manufactured by Kavveri Telecom includes Antennas, RFComponents, Repeaters, TMA / TMB etc.
