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Our Bureau

Kolkata, May 2

The boards of Aksh Optifibre Ltd and Aksh Broadband Ltd have decided to go for a merger. The merger ratio is 2:7. It means that for every two shares of Aksh Broadband held by its existing shareholders, seven shares of Aksh Optifibre would be allotted. According to Dr Kailash Choudhuri, Managing Director of Aksh Optifbre, the amalgamation would help the company in strengthening its balance sheet and it is in alignment with the existing operations. He further said that subsequently Askh Optifibre would participate in all the proposed boardband projects with the different State Governments.

For the year ended March 31, 2006, Aksh Optifibre has registered a turnover and net sales of Rs 113.17 crore and Rs 14.83 crore, respectively. Aksh Broadband's turnover and net profit for 2005-06 was Rs 109 crore and Rs 18 crore, respectively.

More Stories on : Mergers & Acquisitions | Broadband

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