Adarsh Plant receives LOI from two more FIs

Adarsh Plant Protect Ltd has announced that the Company has received Letter of Intent (LOI) from two more FIs investing in the Company in the form of equity / warrants upto 4.5% each, this is the result of the huge time investment and great efforts by the management in negotiating and presenting the growth plans to the investor groups.

The name of the FIs are Anrex Health Care Inc, USA and Shanraj Enterprise Inc, LA, USA.

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 January 07, 2008 to discuss and decide and consider the same.

The stock was trading at Rs.49, down by Rs.0.20 or 0.41%. The stock hit an intraday high of Rs.50.50 and low of Rs.48.75.

The total traded quantity was 87479 compared to 2 week average of 83031.

Source : Equity Bulls

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