Apparel maker Indus Fila Ltd has announced that its board has approved raising $50 million in the form of equity or debt.

Indusfila Limited. is a part of the Indus Mandhana Group. The company has diverse interests in textiles sourcing and manufacturing spanning a period of over five decades.

To capitalize on its core strength, the group has invested in vertically integrated units manufacturing fabrics and apparel to cater to the growing needs of apparel market worldwide.

At 12:15 pm, the stock was quoting at Rs. 340 on NSE, up 1% from its previous close of Rs. 337. It touched an intraday high of Rs. 345 and low of Rs. 340.