The board of Infibeam Incorporation on Wednesday approved a proposal to raise funds not exceeding ₹2,000 crore.
The company is eyeing various options including issuance of securities through QIP/FCCB/FCEB/ADR/GDR etc., subject to necessary approvals.
The board has also recommended a final dividend of 10 per cent (face value: ₹1) for financial year 2017-18.
The company name will be changed from ‘Infibeam Incorporation Limited’ to ‘Infibeam Avenues Limited’ as approved by the Ministry of Corporate Affairs. Shares of Infibeam closed 1.22 per cent higher at ₹170.50 on the NSE.