Cable maker Aksh Optifibre today said it has received the approval from its board for raising funds up to $20 million (about Rs 95 crore) through preferential basis.
The board has "approved the proposal to raise funds up to $20 million through preferential issue for its services division comprising IPTV and VoIP businesses," Aksh Optifibre said in a filing to the Bombay Stock Exchange (BSE).
Shares of Aksh Optifibre closed at Rs 25.30, up 3.27 per cent from its previous close on the BSE.