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Texel Industries’ board approves rights issue to raise Rs 20 crore

10 May 2021

Texel Industries’ Board of Directors has approved the raising of funds through issuance and allotment of equity shares of face value of Rs 10/- each for an aggregate amount of up to Rs 20 crore, on a rights basis to the eligible equity shareholders of the Company as on a record date on such terms and conditions as may be decided by the Board of Directors or Committee thereof subject to the receipt of regulatory / statutory approvals.

Further, the Board of Directors has delegated powers to the Finance and Investment Committee of Directors in respect of Rights Issue.

Texel Industries, formerly known as Texel Plastics manufactures speciality coated fabrics, protection covers and other related products at its plant in Kalol, Gujarat. The company's products are used in effluent storage ponds, foundations of buildings, water-proofing of buildings, building of roads, storage of grain, transportation of goods, etc.

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