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Affle (India) board OKs raising upto Rs 1080 cr

Capital Market 

Affle (India) on Saturday announced that its board has approved raising upto Rs 1080 crore through further issue of securities including warrants and bonds.

In an exchange filing on Saturday, Affle (India) said, "The board of directors of the Company at its meeting held today discussed and approved the proposal of raising of funds by way of further issue of securities including warrants and bonds (whether convertible or non-convertible) or any combination thereof through a preferential issue and/or Qualified Institutions Placements by the Company (QIP) or through any other permissible mode or any combination thereof, for an aggregate amount not exceeding Rs 1080 crore."

The board will convene an extraordinary general meeting on 24 March 2021 to seek shareholders' approval for the proposed fund raising.

Shares of Affle (India) rose 0.08% at Rs 5199.70 on Friday. Affle (India) is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagements, acquisitions and transactions through relevant mobile advertising.

On a consolidated basis, the company's net profit gained 43.1% to Rs 30.69 crore on a 59.3% rise in net sales to Rs 150.49 crore in Q3 FY21 over Q3 FY20.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sat, February 27 2021. 12:51 IST