Infibeam board approves raising up to ₹60 cr through convertible warrants .

The board of Infibeam Incorporation has approved raising up to ₹60 crore through issue of convertible warrants. In an exchange filing, the company said that warrants will be issued on preferential basis to investors other than promoters at a conversion price of ₹1,375 a share. The board also gave approval to increase the borrowing limit to ₹3,000 crore from ₹1,000 crore and to raise the limit for inter-corporate loans, investments, and guarantees to ₹3,000 crore from ₹1,000 crore. The board has convened an extraordinary meeting of its shareholdes to be held on February 22 to seek their approval for the proposals. The stock of Infibeam jumped 9.93 per cent at ₹1,268.55 on the BSE.