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Max India will raise Rs10 billion from sale of securities

Max India will raise Rs10 billion from sale of securities
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First Published: Thu, Feb 22 2007. 04 26 PM IST
Updated: Thu, Feb 22 2007. 04 26 PM IST
By Agencies
Max India Ltd., which is partnering US-based New York Life Insurance Co. locally, said its board approved a plan to raise Rs10 billion selling shares or related securities to select investors.
The securities will be sold to so-called qualified institutional buyers, New Delhi-based Max India said in a statement to the Bombay Stock Exchange today.
The board also approved raising the overseas investment limit in the company to 49 % of its paid-up capital, Max India said in the statement.
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First Published: Thu, Feb 22 2007. 04 26 PM IST
More Topics: Money Matters | Bonds |