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Ess Dee Aluminium board approves $150 million in convertibles
By Devika Patel
Knoxville, Tenn., July 5 - The board of directors of Ess Dee Aluminium met Wednesday and approved a proposal to raise up to $150 million by issuing Global Depository Receipts, American Depository Receipts and foreign currency convertible bonds.
The meeting also approved an increase in the authorised share capital, to Rs. 350 million from Rs. 300 million, and increasing the limit for foreign institutional investment to 49%.
Ess Dee Aluminium makes aluminium foil-based packaging products. The company has facilities in Daman, India, Goa, India, Thane, India, and Baddi, India.
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