Adarsh Plant Protect received Letter of Intent (LoI) from two more FIs (Anrex Health Care Inc, USA and Shanraj Enterprise Inc, LA, USA.) investing in the company in the form of equity / warrants upto 4.5% each.
Hence, in total the company has already received LoIs from four FIs, including these two, for funding the growth plan of the company. Total proposed FI investment in the company will reach, upto 18% (approx.).
As per schedule, the company`s board will meet on Jan. 07, 2008 to discuss and decide and consider the same.
Shares of the company gained Rs 0.7, or 1.42%, to trade at Rs 49.9. The total volume of shares traded was 29,351 at the BSE. (10.56 a.m., Friday)
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