Karuturi Global to raise Rs 300 crore

Karuturi Global, a flower exporter, is planning to raise Rs 300 crore through the preferential issue of approximately 24.15 crore warrants to the promoters and their Group and to certain strategic investors. 

The Bangalore-based company which is among the top flower exporters and retailers in India, has a topline of Rs 440 crore and a net profit of Rs 124 crore for the fiscal ended March 2009.

The promoters control a little over 78 per cent in the firm. Karuturi Global has a debt of around Rs 120 crore on an asset base of Rs 700 crore.