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BANGALORE: Silk fabric manufacturer and exporter Himatsingka Seide Ltd has said its board of directors is meeting on September 7 to consider stock split and or bonus issue.

The board will also consider raising funds through options such as foreign currency convertible bonds (FCCBs) or global depository receipts (GDRs) to finance the company's growth plans, Himatsingka said in a notice to the Bombay Stock Exchange. Himatsingka recently announced that it planned to set up a Rs 400-crore bed linen fabric unit at Hassan Special Economic Zone in Karnataka. The Karnataka Government has allotted 100 acres at Hassan SEZ for Himatsingka's new unit that would have a capacity of 20 million meters a year.

Construction activity at the new project is expected to start by September and the project is likely to be completed within 12 months.

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