Xpro India Limited announces capital raising plan to bolster global position
Xpro India Limited has unveiled a comprehensive capital raising plan, seeking approval from its shareholders. The plan involves raising up to Rs. 140 Crores through the preferential issue of Convertible Warrants and up to Rs. 150 Crores via a Qualified Institutions Placement (QIP). The participation of the promoter group in the preferential issue underscores their continued commitment to the company.
Enhancing Capital Resources for Strategic Growth
The Board’s primary goal is to strengthen the company’s capital resource base in light of its ambitious growth plans. Xpro India Limited aims to become a globally significant player in the dielectric BOPP film business while consolidating its domestic leadership. The management is confident about adhering to the expansion timelines detailed in the latest Annual Report and subsequent releases.
Xpro India to Enhance Global Footprint with Major Capital Raising Initiative
International Expansion and Subsidiary Establishment
As part of its global supply chain strategy, the Board has approved the establishment of a subsidiary in the United Arab Emirates. This move represents a significant step in expanding the company’s successful global footprint. Shareholders will be kept informed about related developments as required.
Board’s Focus on Value Enhancement
The Board emphasizes sound governance, financial discipline, and business scale and focus as key factors in value enhancement. They express gratitude for the shareholders’ support and anticipate their approvals for the proposed plans.
About Xpro India Limited
Established in 1998 through a corporate demerger, Xpro India Limited has nearly 40 years of experience in polymer processing and extrusion/coextrusion. Part of the esteemed Birla family, Xpro India is a family-led and professionally managed company, known for its strong governance practices. With its dedicated workforce and stringent quality standards, Xpro India continuously strives for product development, high customer service levels, and utmost satisfaction for its customers.