Monday, November 12, 2007

SAPL to raise Rs 150 cr to fund units in Egypt and West Bengal

The Rs 1,000-crore South Asian Petrochem (SAPL) proposes to mop up Rs 150 crore through preferential issue and foreign currency convertible debentures to fund its upcoming unit in Egypt and a new downstream petrochemical facility in West Bengal. The board of SAPL was to meet on November 8 to approve the proposal. The board will also consider issue of foreign currency convertible debentures upto US$20 mln.

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