Flexituff International has received an approval for raising funds up to $9 million in foreign currency, through issue of Foreign Currency Convertible Bonds (FCCBs) convertible into equity shares. The board of directors at its meeting held on November 29, 2013, has considered and approved for the same.
The board has also approved raising funds up to Rs 45 crore by way of preferential issue of equity shares or compulsory convertible debentures to International Finance Corporation (IFC).
Flexituff International is one of the very few fully integrated plants in the world currently manufacturing FIBC, Geo-Textile Fabric and Ground Cover, Reverse Printed BOPP Woven Bags, Special PP Bags including Leno Bags. These products are manufactured at its three manufacturing units located in Pithampur (M.P.) and Kashipur (Uttrakhand).
