Aksh Optifibre bags Jaipur Smart City Project

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The shareholders of South Indian Bank approved raising Rs 500 crore debt on private placement basis. At the 89th Annual General Meeting of shareholders, the bank placed resolution "to approve the borrowing/raising funds in Indian/foreign currency by the issue of debt securities up to Rs 500 crore on private placement basis." In a regulatory filing, the bank said, "All the resolutions were passed with requisite majority."

The shareholders also approved re-appointment of VG Mathew as Managing Director and CEO with effect from October 1, 2017, for a period of three years. Aksh Optifibre Limited, the leading Indian manufacturer of Optical Fibre has said that it has been awarded the eminent Jaipur Smart City Project. Jaipur Smart City is a project led and implemented by Jaipur Smart City Limited, (JSCL) who invited a bid for Development of Smart Road in ABD areas of Jaipur. Aksh participated in the said bid and has been awarded the Letter of Acceptance (LOA) from JSCL. 

JSCL leads the project with a vision to combat and maneuver the growing requirements of Jaipur city by making a planned implementation of development schemes to meet its objective of providing safety and security solutions and to facilitate the citizens as well as civil administration of Jaipur. “The project envisages the development of Smart City solutions and state-of-art City Operation Centre.

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