Filatex India has further acquired 1,99,80,000 Equity Shares of face value of Rs 1 each at a price of Rs 10 each of Texfil, Wholly Owned Subsidiary for an aggregate amount of Rs 19.98 crore.
The said investment will be primarily used to finance the ongoing Polyester Textiles Recycling Project, Repayment of existing loan taken from Filatex and Working capital requirements.
Filatex India is engaged in manufacturing Monofilament Yarns for Zippers, Tooth Brush Bristles, Velcro, Magic Fasteners and Forming Fabrics in India.
